Verizon Communications Inc. reported its financial results for the second quarter of 2026, revealing a total operating revenue of $34.3 billion, a slight decrease of 0.7% compared to $34.5 billion in the same period last year. The company's net income attributable to Verizon was $3.8 billion, or $0.92 per share, down from $5.0 billion, or $1.18 per share, in the prior year. For the first half of 2026, Verizon's total operating revenue reached $68.7 billion, reflecting a 1.0% increase from $68.0 billion in the first half of 2025, while net income attributable to Verizon was $8.9 billion, compared to $9.9 billion in the previous year.
The decline in net income for the second quarter was attributed to several factors, including increased operating expenses, which rose to $27.1 billion from $26.3 billion a year earlier. Notably, selling, general, and administrative expenses surged by 15% to $9.0 billion, driven by severance charges and acquisition-related costs. Additionally, Verizon recorded a pre-tax loss of $746 million related to the classification of its international wireline connectivity and managed network services business as held for sale.
In terms of strategic developments, Verizon completed the acquisition of Frontier Communications in January 2026 for approximately $9.4 billion, which has expanded its fiber broadband footprint to 31 states. The company also acquired select spectrum licenses from UScellular for $1.0 billion and participated in the FCC's Auction 113, winning 82 spectrum licenses valued at approximately $3.2 billion. Furthermore, Verizon announced a joint venture with BT Group plc to enhance wireless connectivity in underserved areas.
Operationally, Verizon reported a total of 146.9 million wireless retail connections as of June 30, 2026, marking a 0.6% increase from the previous year. The company also saw growth in its fiber broadband connections, which rose by 43.3% to 10.9 million. However, wireless equipment revenues decreased by 22.2% to $4.2 billion, reflecting a strategic reduction in device upgrades. The company’s total debt stood at $165.2 billion, with a significant portion being fixed-rate debt, and it maintained a cash balance of $1.8 billion, down from $19.0 billion at the end of 2025.
Looking ahead, Verizon anticipates continued investment in its network infrastructure, with capital expenditures projected between $16.0 billion and $16.5 billion for 2026. The company remains focused on enhancing its service offerings and expanding its market presence, particularly in the fiber broadband segment, while managing its debt levels and operational costs effectively.
About VERIZON COMMUNICATIONS INC
Verizon Communications Inc. is a leading provider of communications, technology, and streaming services, serving consumers, businesses, and government entities worldwide. Its core segments include Consumer, offering wireless, broadband, and video services, and Business, providing enterprise connectivity, security, IoT, and advanced communication solutions. Verizon leverages extensive networks, including 5G and fiber, to deliver reliable, innovative connectivity and digital services.
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