Verizon Communications Inc. posted its strongest quarterly subscriber gains in years, marking a pivotal moment under new CEO Dan Schulman. The company reported a net addition of 616,000 postpaid phone connections in the fourth quarter of 2025, far exceeding analyst expectations of around 417,000, according to FactSet estimates cited in multiple reports. This performance, detailed in Verizon’s earnings release on January 30, 2026, came alongside revenue of $36.4 billion, up 2% from the prior year and topping Wall Street forecasts.

Wireless service revenue, Verizon’s core business, reached $21 billion for the quarter. Adjusted earnings per share hit $1.09, surpassing estimates of $1.05. Schulman, who assumed the role in October 2025 after serving as lead independent director, hailed the results as evidence of a “critical inflection point.” “We are exiting 2025 with strong momentum, delivered by a team that is intensely focused on winning through healthy volumes and fiscally responsible growth,” Schulman stated in the GlobeNewswire earnings release.

These gains reversed a streak of losses in core consumer postpaid phone connections over the prior three quarters, amid fierce competition from T-Mobile US and AT&T. Both Verizon and T-Mobile rolled out aggressive promotions during the holiday period to poach rivals’ customers, with offerings like four phone lines for $100 per month proving effective, as noted by CNBC.

Schulman’s Aggressive Overhaul Takes Hold

Schulman’s tenure began with bold moves, including Verizon’s largest-ever job cuts totaling over 13,000 positions in November 2025 aimed at cost reduction and operational streamlining. “Verizon will no longer be a hunting ground for our competitors,” Schulman declared, emphasizing a shift toward customer delight and efficiency. Despite challenges like a major network outage earlier in January 2026 that disrupted service for millions, the Q4 results demonstrated resilience.

Analysts had anticipated modest growth, but Verizon’s execution exceeded projections. Bloomberg highlighted the subscriber surge as signaling that “turnaround efforts under new CEO Dan Schulman are starting to bear fruit,” in a January 30 post on X. The company’s focus on promotions and network reliability helped secure these additions, the highest quarterly total mobility and broadband volumes since 2019.

Schulman’s background as former PayPal CEO, where he tripled revenue from $8 billion to $30 billion, brought a fintech lens to telecom. His prior roles at AT&T, Virgin Mobile, and Sprint Nextel informed a strategy prioritizing “fiscally responsible growth,” as outlined in Verizon’s October 2025 transition announcement.

Broadband Momentum Builds Post-Frontier

Verizon added 372,000 net broadband connections in Q4, ending with over 16.3 million. This growth accelerated with the January 20, 2026, closing of its $20 billion acquisition of Frontier Communications, expanding fiber access to nearly 30 million homes and businesses across 31 states. “Today marks a defining moment for our company,” Schulman wrote in a welcome letter, per Verizon’s news release.

Fixed-wireless access, leveraging cell towers for home internet, saw 319,000 net additions. The Frontier deal, approved after regulatory hurdles including California clearance on January 15, bolsters Verizon’s convergence strategy, bundling mobile and home services. New offers, like four mobile lines for $20 per line monthly for Frontier fiber customers, aim to drive cross-selling.

Prior to the close, Verizon had built momentum with 306,000 broadband adds in Q3 2025, including 261,000 fixed-wireless, as reported in the company’s Q3 release. Integration plans include transitioning Frontier Fiber to Verizon Fios branding.

Bold 2026 Outlook Amid Capex Discipline

Looking ahead, Verizon forecasts 750,000 to one million net postpaid phone additions in 2026, with total mobility and broadband service revenue growing 2% to 3%. Wireless service revenue is expected to remain flat, reflecting disciplined pricing. Adjusted EPS guidance of $4.90 to $4.95 tops consensus estimates of $4.76, while free cash flow targets at least $21.5 billion and capex between $16 billion and $16.5 billion, down from $17 billion in 2025.

“Our 2026 guidance reflects the beginning of our turnaround, and is a step function change from our past five-year historical average,” Schulman noted. This comes after Q3 2025 results showed wireless service revenue up 2.1% to $21 billion, with the company on track for full-year guidance.

Capital discipline supports dividend continuity, raised for the 19th year in Q3. Analysts like those at RCR Wireless noted Schulman’s push to reduce churn, embrace AI, and cut costs, positioning Verizon against AT&T and T-Mobile.

Competitive Pressures and Execution Risks Persist

Verizon’s resurgence occurs amid intensifying rivalry. T-Mobile’s subscriber gains and AT&T’s fiber push challenge market share. Schulman acknowledged past reliance on price hikes without value, vowing a “customer-first culture” in his Q3 call, as covered by Fierce Network.

Job cuts and a “scrappier” ethos aim to fund network investments while exiting unprofitable segments. X discussions, including from Bloomberg, underscored the subscriber beat as validation, though stock reaction was muted, closing near $39.81 despite a pre-market pop.

With Frontier integrated, Verizon eyes bundled offerings and AI-driven service to deepen loyalty. Schulman’s mandate—executed swiftly—positions the carrier for sustained gains in a cutthroat wireless arena.