Verizon raised its 2026 earnings outlook after third-quarter operating revenue increased 1.5% to $34.3 billion and consolidated net income rose 5.2% to $5.3 billion. Reported diluted earnings were $1.25 a share; the company’s adjusted measure was $1.31. Its results were released on 26 October 2026.
What the profit figures measure
The unaudited accounts cover the three months ended 30 September. Consolidated net income includes earnings attributable to noncontrolling interests. The amount attributable specifically to Verizon was $5.198 billion, up 5.0%. Keeping these measures separate avoids describing all consolidated profit as earnings belonging to Verizon shareholders.
| Measure | Q3 2026 | Q3 2025 | Primary evidence |
|---|---|---|---|
| Operating revenue | $34.313 billion; up 1.5% | $33.821 billion | Financial statements, page 1 |
| Consolidated net income | $5.320 billion; up 5.2% | $5.056 billion | Financial statements, page 1 |
| Net income attributable to Verizon | $5.198 billion; up 5.0% | $4.950 billion | Financial statements, page 1 |
| Reported diluted EPS | $1.25 | $1.17 | Financial statements, page 1 |
| Adjusted EPS (non-GAAP) | $1.31 | $1.21 | Reconciliation, page 6 |
EPS means earnings per share. Adjusted EPS removes specified acquisition-related amortisation and integration costs. It is not the reported accounting result, and the issuer says its non-GAAP measures should supplement, not replace, GAAP accounts. The reconciliation also warns that displayed EPS components may not add because of rounding.
Subscriber growth and a higher forecast
Verizon reported 406,000 postpaid phone net additions. It now expects 1.1 million to 1.2 million for the full year. Its adjusted EPS forecast increased to $5.04–$5.06. These are management forecasts, not completed annual results. Equipment revenue fell 9.0%, showing that subscriber growth did not translate into growth across every revenue category.
The AWS agreement is not quarterly revenue
The issuer also disclosed an AWS agreement valued at more than $2 billion, describing a commercial framework for distributed computing and AI workloads. That agreement value must not be added to Q3 revenue or presented as profit already earned. The reviewed release does not establish when the full amount will become recognised revenue.
What to watch next
The useful follow-up is whether subsequent accounts deliver the higher outlook and explain the AWS agreement’s financial contribution. Verizon’s reconciliation reports $7.801 billion of quarterly free cash flow: $11.517 billion operating cash flow less $3.716 billion capital expenditure. This non-GAAP measure still excludes some cash obligations and is not unrestricted cash available for any purpose.
Primary sources: Verizon’s Q3 release, financial statements and non-GAAP reconciliation. Sources observed on 26 October 2026 at 18:32 IST (13:02 UTC); financial table and EPS reconciliation also visually checked. Figures are US dollars. No share-price move or investment return is inferred.
AI-assisted report checked against linked issuer records; not independent human editorial approval. Publisher-designated author: Tatai. Information only, not investment advice.
Related CapKet coverage
For another example of separating the measures, read Plus500’s reported quarter and forward-looking outlook. This is separate coverage, not additional evidence for the figures above.
Exact source-capture times (UTC): Verizon Communications Inc. — 2026-10-26T13:02:02.727Z; Verizon Communications Inc. — 2026-10-26T13:02:41.427Z; Verizon Communications Inc. — 2026-10-26T13:02:42.175Z.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.