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Verizon
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Updated Oct 29, 2026
Verizon Q3 2026: Frontier integration drives fiber broadband to 11M connections as postpaid ARPA contracts 1.9% YoY
The Frontier acquisition, closed January 20, 2026, is the defining event of Verizon's Q3 2026 results — fiber broadband connections surged to 11.1 million (up 44.2% YoY), but the integration is simultaneously compressing postpaid ARPA to $168.08 (down from $171.27 a year ago) through acquisition-related discount amortization. Consolidated operating revenues grew to $34.3 billion in Q3 and $103.0 billion year-to-date, with Consumer segment EBITDA margin expanding 230 basis points YoY to 45.3%, demonstrating that Frontier's cost base is being absorbed more efficiently than revenue would suggest. The structurally significant new disclosure is the September 14, 2026 joint venture with AT&T and T-Mobile to eliminate wireless dead zones via satellite coverage — a tri-carrier coordination unprecedented in U.S. wireless history.
Tone: mixedRevenue
$138.2B
VZ 10-K · FY 2025
Employees
89,900
Revenue FY2024
$134.8B
Founded
1983
Profile
VZ 10-K Item 1 · Feb 17, 2026Verizon Communications is a holding company operating one of the largest wireless and wireline communications networks in the United States, serving consumers, businesses, and government entities. It operates through two segments — Verizon Consumer Group and Verizon Business Group — offering wireless, fiber broadband, FWA, IoT, and managed network services. The company recently expanded its fiber footprint significantly through the January 2026 acquisition of Frontier Communications.
Read filing description ↓ Collapse description ↑
Verizon Communications Inc. is a holding company that, acting through its subsidiaries, is one of the world's leading providers of communications, technology, information and streaming products and services to consumers, businesses and government entities. With a presence around the world, we offer data, video and voice services and solutions on our networks and platforms that are designed to meet customers' demand for mobility, reliable network connectivity and security. We have two reportable segments that we operate and manage as strategic business units - Verizon Consumer Group (Consumer) and Verizon Business Group (Business). Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States under the Verizon family of brands and through wholesale and other arrangements. Our wireline services are provided in 31 U.S. states and Washington D.C. over our 100% fiber-optic network through our fiber product portfolio, as well as over a traditional copper-based network. We also provide fixed wireless access (FWA) broadband through our fifth-generation (5G) or fourth-generation (4G) Long-Term Evolution (LTE) networks as an alternative to traditional landline internet access. Our Business segment provides wireless and wireline communications services and products, including mobility communication services, FWA and wireline broadband, Internet of Things (IoT) connectivity solutions, advanced communication services, corporate networking solutions, local and long distance voice services, and security and managed network services.
Primary products
- Wireless services (postpaid and prepaid)
- Fixed wireless access (FWA) broadband
- Wireless equipment
- Fios internet
- Fios video
- Residential fixed connectivity solutions
Business segments
End markets
Geographies
Named customers
A portion of Wholesale revenues are generated by a few large telecommunications companies, most of which compete directly with us.
Named competitors
“Verizon operates an award winning national wireless network covering approximately 147 million wireless retail connections, and an extensive broadband network covering approximately 14 million broadband connections as of December 31, 2025.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Consolidated operating revenues increased $3.4 billion, or 2.5%, in 2025 versus 2024, driven by Consumer segment growth of 3.8%, partially offset by a 1.6% decline in Business segment revenues.
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