Verizon has significantly raised its annual profit forecast, driven by a surprise surge in wireless subscribers during the first quarter. Revamped customer offers and bundled plans were key to attracting new paying customers.
The company added 55,000 monthly bill-paying wireless subscribers, marking its first net gain for the March-ended period in over a decade, defying analyst expectations of a decrease. This performance underscores Verizon's commitment to reviving wireless growth.
CEO Dan Schulman is reportedly in discussions with major tech players, including hyperscalers and cloud providers, to leverage Verizon's fiber and 5G assets for AI infrastructure. This strategic move has the potential to generate billions in new revenue.
Verizon now anticipates total retail postpaid phone net additions for the year to be in the upper half of its previous forecast, aiming for 750,000 to 1 million. The company also revised its adjusted profit forecast for 2026 to between $4.95 and $4.99 per share. First-quarter adjusted profit reported at $1.28 per share, exceeding estimates.