Verizon raises financial guidance for adjusted EBITDA, adjusted EPS and free cash flow after strong Q2 performance

Delivers industry-leading wi-fi service income and grows buyer base

America’s #1 community with probably the most mobility and broadband prospects continues to increase its market management place

Key 2Q 2025 Highlights

• Grew industry-leading wi-fi service income¹ to $20.9 billion

• Expanded high-quality buyer base, including greater than 300,000 web additions throughout mobility and broadband

• Elevated Client postpaid cellphone gross additions, each sequentially and year-over-year

• Continued to take broadband market share with each fastened wi-fi entry and finest in school Fios choices

• Deepened buyer relationships with segmentation and progressive services like Finest Worth Assure, myPlan, myHome, My Biz Plan and the customer support transformation

• J.D. Energy, for the thirty fifth time, acknowledged Verizon for finest wi-fi community high quality², and RootMetrics’ 1H 2025 Awards named Verizon the nation’s finest, quickest, and most dependable 5G community³

NEW YORK, July 21, 2025 (GLOBE NEWSWIRE) — Verizon Communications Inc. (NYSE, Nasdaq: VZ), serving probably the most mobility and broadband prospects within the U.S.⁴, reported sturdy monetary efficiency and buyer progress for second-quarter 2025. The corporate’s diversified wi-fi and broadband portfolio, tailor-made to all market segments, and its various income streams proceed to drive monetary success. Verizon additionally made key strikes to draw and retain prospects within the second quarter with its 3-year value lock and free cellphone assure, and the industry-leading launch of AI-powered improvements for customized customer support and an enhanced buyer expertise. Verizon will proceed to deal with its three priorities of rising wi-fi service income, increasing adjusted EBITDA⁵ and producing sturdy free money movement⁵ because it heads into the second half of the 12 months with momentum.

“Verizon’s sturdy second-quarter monetary efficiency displays our high-quality, industry-leading buyer base, our a number of progress paths, the success of our disciplined, segmented strategy, and the inherent energy of our firm,” mentioned Verizon Chairman and CEO Hans Vestberg. “Our unmatched and award-winning community mixed with our monetary energy allows us to repeatedly innovate and improve our services, empowering how folks reside, work and play. With momentum and a transparent path ahead, we’re elevating our full-year steering for adjusted EBITDA⁵, adjusted EPS⁵ and free money movement⁵ as we transfer into the second half of the 12 months and advance towards closing the Frontier acquisition.”

2Q 2025 Highlights
Consolidated: Sturdy monetary efficiency with important will increase in web revenue, adjusted EBITDA⁵, earnings per share (EPS) and money movement

• EPS of $1.18 in second-quarter 2025 in comparison with EPS of $1.09 in second-quarter 2024; adjusted EPS⁵, excluding particular gadgets, of $1.22 in comparison with $1.15 in second-quarter 2024.

• Complete working income of $34.5 billion in second-quarter 2025, up 5.2 % year-over-year.

• Money movement from operations totaled $16.8 billion in first-half of 2025, up from $16.6 billion in first-half of 2024.

• Free money movement⁵ was $8.8 billion in first-half of 2025, up from $8.5 billion in first-half of 2024.

• Consolidated web revenue for second-quarter 2025 was $5.1 billion in comparison with $4.7 billion in second-quarter 2024. Consolidated adjusted EBITDA⁵ was $12.8 billion in second-quarter 2025 in comparison with $12.3 billion in second-quarter 2024.

• Wi-fi service income¹ in second-quarter 2025 was an industry-leading $20.9 billion, up 2.2 % year-over-year.

• Wi-fi tools income of $6.3 billion in second-quarter 2025, up 25.2 % year-over-year.

• Verizon’s whole unsecured debt as of the top of second-quarter 2025 was $119.4 billion, in comparison with $117.3 billion on the finish of first-quarter 2025 and $125.3 billion on the finish of second-quarter 2024. The corporate’s web unsecured debt⁵ on the finish of second-quarter 2025 was $116.0 billion. On the finish of second-quarter 2025, Verizon’s ratio of unsecured debt to consolidated web revenue (LTM) was 6.4 occasions and its web unsecured debt to consolidated adjusted EBITDA ratio⁵ was 2.3 occasions.

Broadband: Verizon continued to take broadband market share by providing prospects unparalleled alternative and suppleness

• Delivered 293,000 broadband web additions in second-quarter 2025.

• Complete fastened wi-fi entry web additions of 278,000 in second-quarter 2025, rising the bottom to over 5.1 million fastened wi-fi entry subscribers. The corporate is well-positioned to attain the subsequent milestone of 8 to 9 million fastened wi-fi entry subscribers by 2028.

• Complete broadband connections grew to greater than 12.9 million as of the top of second-quarter 2025, representing a 12.2 % improve year-over-year.

• Verizon is increasing its Fios footprint and stays on observe to attain 650,000 new passings in 2025.

Verizon Client: Buyer engagement with choices fueled a 6.9 % year-over-year improve in Client income, which reached $26.6 billion in second-quarter 2025

• Client wi-fi service income in second-quarter 2025 was $17.4 billion, up 2.3 % year-over-year.

• Client wi-fi retail postpaid churn was 1.12 % in second-quarter 2025, and wi-fi retail postpaid cellphone churn was 0.90 %.

• Client wi-fi postpaid common income per account (ARPA) of $147.50 in second-quarter 2025, a rise of two.3 % year-over-year.

• In second-quarter 2025, Client reported 51,000 wi-fi retail postpaid cellphone web losses in comparison with 109,000 postpaid cellphone web losses in second-quarter 2024.

• In second-quarter 2025, Client reported 50,000 wi-fi retail core pay as you go⁶ web additions in comparison with 12,000 web losses in second-quarter 2024.

• In second-quarter 2025, Client working revenue was $7.6 billion, a rise of 0.5 % year-over-year, and section working revenue margin was 28.7 %, in comparison with 30.5 % in second-quarter 2024. Phase EBITDA⁵ in second-quarter 2025 was $11.2 billion, a rise of two.1 % year-over-year. These outcomes had been pushed by enhancements in Client wi-fi service income. Phase EBITDA margin⁵ in second-quarter 2025 was 42.1 % in comparison with 44.1 % in second-quarter 2024.

Verizon Enterprise: Sturdy execution elevated working revenue 27.6 % year-over-year

• Complete Verizon Enterprise income was $7.3 billion in second-quarter 2025, a lower of 0.3 % year-over-year.

• Enterprise wi-fi service income in second-quarter 2025 was $3.6 billion, a rise of 1.6 % year-over-year.

• Enterprise reported 65,000 wi-fi retail postpaid web additions in second-quarter 2025. This consequence included 42,000 postpaid cellphone web additions.

• Enterprise wi-fi retail postpaid churn was 1.61 % in second-quarter 2025, and wi-fi retail postpaid cellphone churn was 1.26 %.

• In second-quarter 2025, Verizon Enterprise working revenue was $638 million, a rise of 27.6 % year-over-year, leading to section working revenue margin of 8.8 %, a rise from 6.8 % in second-quarter 2024. Phase EBITDA⁵ in second-quarter 2025 was $1.7 billion, a rise of 5.8 % year-over-year. Phase EBITDA margin⁵ in second-quarter 2025 was 22.9 %, a rise from 21.6 % in second-quarter 2024.
  

Outlook and steering

The corporate doesn’t present a reconciliation for sure of the next adjusted (non-GAAP) forecasts as a result of it can not, with out unreasonable effort, predict the particular gadgets that would come up, and the corporate is unable to handle the possible significance of the unavailable data. 

Sturdy operational execution within the first half of 2025 coupled with favorable tax reform provides Verizon the arrogance to offer the next up to date steering for the complete 12 months:

• Adjusted EBITDA⁵ progress of two.5 % to three.5 %.

• Adjusted EPS⁵ progress of 1.0 % to three.0 %.

• Money movement from operations of $37.0 billion to $39.0 billion.

• Free money movement⁵ of $19.5 billion to $20.5 billion.

As well as, for 2025, Verizon continues to anticipate the next:

Our 2025 monetary steering doesn’t mirror any assumptions concerning the pending acquisition of Frontier.

¹ Complete wi-fi service income represents the sum of Client and Enterprise segments. Displays the reclassification of recurring system safety and insurance associated plan revenues from different income into wi-fi service income within the first quarter of 2025. The place relevant, historic outcomes have been recast to evolve to the present interval presentation.

² Verizon is #1 for Community High quality in 4 areas (tied within the Southwest and North Central areas). Verizon has additionally obtained the best variety of awards in community high quality for the thirty fifth time as in comparison with all different manufacturers within the J.D. Energy 2003-2025 Quantity 1 and a pair of U.S. Wi-fi Community High quality Carry outance Research. Community High quality measures prospects’ satisfaction with their community efficiency with wi-fi carriers. For J.D. Energy 2025 award data, go to jdpower.com/awards for extra particulars.

³ Based mostly on RootMetrics® US Nationwide RootScore® Report 1H2025. RootMetrics conducts rigorous, impartial, and scientific testing to offer a complete view of community efficiency. For extra data on the RootMetrics methodology and outcomes, go to rootmetrics.com.

⁴ Measurement is targeted on retail connections and excludes reseller exercise. Trade main claims are based mostly on publicly reported buyer data or consensus expectations if outcomes aren’t but reported.

⁵ Non-GAAP monetary measure. See the accompanying schedules and www.verizon.com/about/buyers for reconciliations of non-GAAP monetary measures cited on this doc to most instantly comparable monetary measures beneath typically accepted accounting ideas (GAAP).

⁶ Represents whole pay as you go outcomes excluding SafeLink model. Contains each cellphone and non-phone web additions.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its tens of millions of shoppers reside, work and play, delivering on their demand for mobility, dependable community connectivity and safety. Headquartered in New York Metropolis, serving nations worldwide and practically the entire Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon’s world-class staff by no means stops innovating to satisfy prospects the place they’re in the present day and equip them for the wants of tomorrow. For extra, go to verizon.com or discover a retail location at verizon.com/shops.

VERIZON’S ONLINE MEDIA CENTER: Information releases, tales, media contacts and different assets can be found at verizon.com/information. Information releases are additionally out there by an RSS feed. To subscribe, go to www.verizon.com/about/rss-feeds/.

Ahead-looking statements
On this communication now we have made forward-looking statements. These statements are based mostly on our estimates and assumptions and are topic to dangers and uncertainties. Ahead-looking statements embody the knowledge regarding our potential or assumed future outcomes of operations. Ahead-looking statements additionally embody these preceded or adopted by the phrases “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “forecasts,” “hopes,” “intends,” “plans,” “targets” or related expressions. For these statements, we declare the safety of the protected harbor for forward-looking statements contained within the Non-public Securities Litigation Reform Act of 1995. We undertake no obligation to revise or publicly launch the outcomes of any revision to those forward-looking statements, besides as required by legislation. Given these dangers and uncertainties, readers are cautioned to not place undue reliance on such forward-looking statements. The next necessary elements, together with these mentioned in our filings with the Securities and Change Fee (the “SEC”), may have an effect on future outcomes and will trigger these outcomes to vary materially from these expressed within the forward-looking statements: the results of competitors within the markets by which we function, together with the shortcoming to efficiently reply to aggressive elements similar to costs, promotional incentives and evolving shopper preferences; failure to make the most of, or reply to rivals’ use of, developments in know-how, together with synthetic intelligence, and handle adjustments in shopper demand; efficiency points or delays within the deployment of our 5G community leading to important prices or a discount within the anticipated advantages of the enhancement to our networks; the shortcoming to implement our enterprise technique; antagonistic situations within the U.S. and worldwide economies, together with inflation and altering rates of interest within the markets by which we function; adjustments to worldwide commerce and tariff insurance policies and associated financial and different impacts; cyberattacks impacting our networks or methods and any ensuing monetary or reputational impression; harm to our infrastructure or disruption of our operations from pure disasters, excessive climate situations, acts of struggle, terrorist assaults or different hostile acts and any ensuing monetary or reputational impression; disruption of our key suppliers’ or distributors’ provisioning of services or products, together with because of geopolitical elements, pure disasters or excessive climate situations; materials antagonistic adjustments in labor issues and any ensuing monetary or operational impression; harm to our status or manufacturers; the impression of public well being crises on our enterprise, operations, staff and prospects; adjustments within the regulatory surroundings by which we function, together with any improve in restrictions on our means to function our networks or companies; allegations concerning the discharge of hazardous supplies or pollution into the surroundings from our, or our predecessors’, community belongings and any associated authorities investigations, regulatory developments, litigation, penalties and different legal responsibility, remediation and compliance prices, operational impacts or reputational harm; our excessive stage of indebtedness; important litigation and any ensuing materials bills incurred in defending in opposition to lawsuits or paying awards or settlements; an antagonistic change within the rankings afforded our debt securities by nationally accredited rankings organizations or antagonistic situations within the credit score markets affecting the associated fee, together with rates of interest, and/or availability of additional financing; important will increase in profit plan prices or decrease funding returns on plan belongings; adjustments in tax legal guidelines or laws, or of their interpretation, or challenges to our tax positions, leading to further tax expense or liabilities; adjustments in accounting assumptions that regulatory businesses, together with the SEC, might require or that consequence from adjustments within the accounting guidelines or their utility, which may end in an impression on earnings; and dangers related to mergers, acquisitions, divestitures and different strategic transactions, together with our means to consummate the proposed acquisition of Frontier Communications Guardian, Inc. and acquire price financial savings, synergies and different anticipated advantages throughout the anticipated time interval or in any respect.

Media contacts:
Katie Magnotta
201-602-9235
katie.magnotta@verizon.com

Jamie Serino
201-401-5460
jamie.serino@verizon.com