Verizon Reports Positive Q1 Postpaid Phone Net Adds for First Time Since 2013

Verizon reported a net addition of 55,000 postpaid phone subscribers in the first quarter of 2026, marking the first positive figure for that period since 2013, according to the company's Q1 earnings call on Monday. Postpaid customers pay monthly bills under contract and are considered more valuable due to higher bills and lower likelihood of switching providers.

Consumer postpaid phone churn was 90 basis points in Q1, improving by 5 basis points from Q4 2025, and fell below 85 basis points in March.

Total operating revenue for Q1 reached $34.4 billion, a 2.9% increase year-over-year. Adjusted earnings per share were $1.28, exceeding estimates and up 7.6% from the previous year, the highest growth rate in over four years. Consolidated net income was $5.1 billion, up 3.3%.

Verizon raised its 2026 adjusted EPS growth forecast to 5%-6%. The company's stock price increased about 1.5% at Monday's close, after rising as much as 4.5% earlier in the session.

Dan Schulman, Verizon's chief executive since October, stated that churn is a key measure of the company's efforts. He noted that lowering churn allows marketing dollars to add to a stable base rather than replace lost customers.

“That is a significant improvement both sequentially from Q4 and within the quarter, and it reversed the upward pressure we had seen in churn over the past several years," Schulman said. Schulman succeeded Hans Vestberg. Morningstar Equity Director Michael Hodel stated in an analyst note that Verizon is attracting new customers better than a year ago, partly due to lower pricing, while maintaining a $53 fair value estimate and narrow economic moat rating. Verizon still lost more postpaid phone subscribers than it gained in the quarter, but only by 35,000, a 321,000 improvement from a year ago. In other developments, Giuseppe "Joe" Di Salvo was promoted to senior vice president and CFO of Avient Corporation, effective June 1, succeeding Jamie A. Beggs, who is leaving for other opportunities. Di Salvo has 25 years of financial experience, including nearly 15 at Avient. Mark Hancock, co-founder and first CFO of PACS Group, Inc., will retire on June 30 and continue as vice chairman on the board. He co-founded PACS in 2013 with Jason Murray, the chairman, and oversaw expansion to 323 facilities across 17 states. Carey P. Hendrickson will succeed him, bringing nearly four decades of financial leadership experience.”