Verizon reports record-breaking third-quarter 2026 growth driven by transformation efforts

Verizon has reported its strongest third-quarter postpaid phone net additions in five years and its best quarterly net account growth in over a decade. According to company reports, these results are part of a multi-year transformation led by CEO Dan Schulman, who took over approximately one year ago. The company added 406,000 postpaid phone net additions in the third quarter, which represents an increase of more than 820% year-over-year. Additionally, Verizon added 137,000 postpaid net accounts. For the first nine months of 2026, the company acquired nearly 1.7 million mobility and broadband subscribers, compared to 879,000 during the same period in 2025. CEO Dan Schulman attributed the growth to a shift away from heavy subsidies in favor of loyalty programs and "customer-first offerings" such as Simplicity. Schulman noted that the company achieved these gains without offering free lines. This strategic shift contributed to a 41% year-over-year decrease in promotional acquisition costs and a 30% improvement in promotional retention costs. Financial results for the third quarter include: * **Total operating revenue:** $34.3 billion, a 1.5% increase year-over-year. However, Fierce Network reports this figure missed expectations of $34.85 billion. * **Mobility and broadband service revenue:** $23.5 billion, up 2.9% year-over-year. * **Consolidated net income:** $5.3 billion, a 5.2% increase year-over-year. * **Equipment revenue:** Declined 9% year-over-year, which the company attributed to a strategic reduction in device subsidies and customers keeping their mobile devices longer. In the broadband sector, Verizon delivered 314,000 net additions, consisting of 159,000 fixed wireless access (FWA) additions and 155,000 fiber broadband additions. While the company views these as strong results, Fierce Network notes that Wolf Research analyst Peter Supino stated both fiber and FWA net adds missed expectations. Verizon is expanding its infrastructure through "AI Connect," an initiative launched in 2025. The company recently announced a dark fiber agreement with Amazon Web Services valued at over $2 billion, following a $1 billion agreement with Google. Additionally, Verizon has entered a multi-billion-dollar deal with Corning for more than 80 million miles of fiber through 2032. Regarding FWA, Schulman stated the company will use its millimeter wave spectrum to provide 1 gig speeds in metro areas. He aims to increase the number of premises served by 1 gig FWA by 10 to 15 million over the medium term. This is in addition to a target of 40 to 50 million fiber passings. Following these results, Verizon has raised its full-year guidance for the third consecutive quarter. The company now expects 2026 postpaid phone net adds to reach between 1.1 and 1.2 million. --- HOT covers what Americans are searching for most right now. Sources: Verizon: https://www.verizon.com/about/news/verizon-delivers-another-record-breaking-quarter; Fierce Network: https://www.fierce-network.com/broadband/verizon-ceo-schulman-says-hes-demanding-employees-its-paying. Machine-written by gemma4:31b-cloud from those reports. Fact check against them by gpt-oss:120b-cloud.