Verizon Q2 2026: Net Income Drops 23% on $746M BT Venture Charge, But Postpaid Phone Adds Surge

summarizeSummary

Verizon's Q2 2026 earnings fell 23% to $3.9B due to a $746M BT venture charge, but wireless subscriber trends improved sharply with 184K postpaid phone adds. Cost cuts and a $25B buyback program are underway.

check_boxKey Events · Earnings and Guidance · VZ

• Q2 Earnings Decline

  Net income attributable to Verizon fell 23% YoY to $3.8B, or $0.92 per share, driven by a $746M non-cash loss on the BT joint venture held-for-sale classification and higher interest expense.

• Wireless Subscriber Rebound

  Postpaid phone net additions swung to +184,000 from -9,000 a year ago, and postpaid phone churn improved to 0.92% from 0.97%, signaling competitive momentum.

• Cost Restructuring

  Verizon recorded $397M in severance charges and $258M in asset rationalization as part of a broader plan targeting ~$5B in annual savings, including ~17,000 job cuts.

• Share Repurchase Program

  The company repurchased $3.5B in shares during H1 2026 under a new $25B authorization, with $21.5B remaining. The full-year buyback target was raised to up to $4.5B.

auto_awesomeAnalysis · VZ · Technology

Verizon's Q2 2026 net income fell to $3.9B from $5.1B a year ago, dragged down by a $746M non-cash loss on the BT joint venture held-for-sale classification and higher interest costs. However, the core wireless business showed strength: 184,000 postpaid phone net additions reversed last year's losses, and churn improved to 0.92%. The company is aggressively cutting costs—targeting $5B in savings—and repurchased $3.5B in shares under a new $25B program. The Frontier acquisition is being integrated, and spectrum investments continue. The results highlight a company in transition: managing legacy declines while investing for growth, with the balance sheet remaining highly leveraged at $165B in total debt.