Verizon Communications reported revenue of $36.4 billion in the fourth quarter of 2025 and $138.2 billion for the full year, reflecting steady performance across wireless and broadband businesses. Capital expenditures reached $17.0 billion in 2025, underlining Verizon’s continued focus on network investment and long-term growth.
Wireless service revenue totaled $21.0 billion in fourth-quarter 2025, rising 1.1 percent year over year, while wireless equipment revenue increased 9.1 percent to $8.2 billion, supported by strong device demand.
Verizon CEO Dan Schulman said the company’s top priority is to invest strategically to maintain network excellence and improve customer experience, adding that the 2026 guidance signals the beginning of a turnaround after several years of muted growth.
Subscriber momentum strengthened during the quarter. Verizon delivered 616,000 postpaid phone net additions, its best quarterly performance since 2019 and an improvement from 504,000 a year earlier. Total wireless phone customers reached 115.903 million, with 840,000 net additions recorded in Q4-2025.
Broadband growth also remained robust. Verizon added 372,000 broadband customers in the fourth quarter, driven primarily by fixed wireless access. Fixed wireless access net additions totaled 319,000, lifting the subscriber base to more than 5.7 million. Fios internet delivered 67,000 net additions, the highest fourth-quarter result since 2020. Following the completion of the Frontier acquisition, Verizon now serves over 16.3 million fixed wireless access and fiber broadband connections.
By the end of Q4-2025, Verizon had 10.858 million broadband customers, including 209,000 fixed wireless access additions and 56,000 wireline broadband additions during the quarter. The company reported 7.32 million Fios internet customers and 2.44 million Fios video customers.
On the revenue per user front, Verizon reported wireless retail postpaid ARPA of $147.36 in Q4-2025, while wireless retail core prepaid ARPU reached $32.90, reflecting stable monetization across customer segments.
Outlook for 2026
Looking ahead, Verizon expects improved operating performance in 2026. Total retail postpaid phone net additions are forecast to range between 750,000 and 1.0 million, roughly two to three times the level reported in 2025. The company projects total mobility and broadband service revenue growth of 2.0 percent to 3.0 percent, equating to approximately $93 billion. Wireless service revenue is expected to remain approximately flat as Verizon transitions toward more sustainable, volume-based growth.
Capital expenditures in 2026 are planned at $16.0 billion to $16.5 billion, including a fiber build pace of at least 2.0 million passings, reinforcing Verizon’s long-term commitment to network expansion and broadband leadership.
BABURAJAN KIZHAKEDATH
