TLDR
- Q2 adjusted EPS of $1.22 beat analyst consensus of $1.18
- Revenue grew 5.2% YoY to $34.5 billion, topping forecasts
- Net income reached $5.1 billion; consumer revenue rose 6.9%
- Wireless and broadband drove growth, despite mixed postpaid metrics
- Verizon raised 2025 free cash flow and EPS guidance
Verizon Communications Inc. (NYSE: VZ) stock was trading at $42.25, up 3.45% as of writing, after the company reported stronger-than-expected Q2 earnings for the quarter ended June 30, 2025.
Verizon Communications Inc. (VZ)
Adjusted earnings per share (EPS) came in at $1.22, exceeding the analyst estimate of $1.18 and last year’s $1.15. Revenue rose 5.2% year-over-year to $34.5 billion, beating the $33.74 billion forecast.
Revenue Drivers and Segment Performance
Wireless service revenue totaled $20.9 billion, up 2.2% year-over-year, supported by streaming add-ons such as Netflix. Verizon Consumer revenue rose 6.9% to $26.6 billion, while Verizon Business revenue declined slightly by 0.3% to $7.3 billion. Total broadband net additions hit 293,000, down from 391,000 last year, though the company ended the quarter with 12.9 million broadband customers, up 12.2% year-over-year.
Verizon Communications, $VZ, Q2-25. Results:
📊 Adj. EPS: $1.22 🟢
💰 Revenue: $34.50B 🟢
📈 Net Income: $5.12B
🔎 Wireless equipment revenue surged 25%, driving revenue growth pic.twitter.com/GKSpNs2MEB— EarningsTime (@Earnings_Time) July 21, 2025
Verizon’s postpaid phone net losses stood at 9,000, short of analysts’ expectations for a 13,000 gain. Verizon Business added 65,000 postpaid connections. Consumer segment net losses were 51,000 compared to 109,000 last year. The company added 50,000 prepaid wireless retail customers, reversing a 12,000 loss from a year ago.
Profit Margins and Cash Flow
Net income rose to $5.1 billion, up from $4.7 billion a year ago. Consumer EBITDA margin declined 200 basis points to 42.1%, while the business segment margin improved by 130 basis points to 22.9%. Company-wide adjusted EBITDA grew to $12.8 billion from $12.3 billion year-over-year. Free cash flow fell slightly to $5.2 billion from $5.8 billion.
Verizon attributes this performance to strategic initiatives like its three-year price lock, free phone offers, and AI-enhanced customer support, which improved retention and acquisition metrics.
FY25 Outlook and Analyst Sentiment
Verizon reaffirmed its 2.0%-2.8% wireless service revenue growth outlook for FY25. It narrowed its adjusted EPS forecast from $4.59-$4.73 to $4.64-$4.73, compared to the consensus of $4.68. Free cash flow is now projected at $19.5 billion to $20.5 billion, up from $17.5 billion-$18.5 billion. Operating cash flow was revised to $37-$39 billion.
Verizon did not include assumptions about its pending acquisition of Frontier Communications (NASDAQ: FYBR) in its guidance. The company is targeting 8–9 million fixed wireless subscribers in the next phase of expansion.
Stock Performance
Verizon shares have declined 5.6% this quarter but are up 2.1% year-to-date. Total returns as of July 21 show a one-year gain of 9.24%, with five-year returns at 2.29% versus the S&P 500’s 94.43%.
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