Verizon has delivered another impressive quarter under new CEO Dan Schulman, firmly putting three straight quarters of customer losses in the rearview mirror. The results are notable for a few reasons, chief among them being a sign that the nation's top carrier isn't ready to surrender its crown just yet.
Delighted customers
Verizon Q1 2026 results. | Image by Verizon
Q1 2026 marked Schulman's first full quarter at the helm, and boy, did he deliver.
The first quarter is typically a soft season for carriers. While analysts braced for subscriber losses, Verizon defied the odds by posting 55,000 postpaid phone net additions. That's the first time Big Red has gained postpaid subscribers in a first quarter since 2013.
Compared to Q1 2025, the company swung upward by 340,000 subscribers, fueled by fresh signups, reduced churn and tighter operational efficiency.
Buoyed by this momentum, Verizon now expects total retail postpaid phone net additions to land between 750,000 and 1 million for 2026, potentially double or triple 2025 levels.
Total prepaid net additions were 115,000, making Q1 the seventh consecutive quarter of growth. Consolidated broadband net adds were 341,000, split between 214,000 fixed wireless access and 127,000 fiber.
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The company now boasts 16.8 million broadband connections.
We are beginning to reclaim our market leadership by putting the customer at the center of everything we do, reducing friction to increase loyalty and create genuine value.
Dan Schulman, Verizon CEO, April 2026
Strong financials
Unlike last quarter, the growth didn't break the bank. Operating revenue climbed 2.9 percent year-over-year to $34.4 billion, thanks to a more level-headed approach to promotions that kept upgrades steady. Net income grew 3.3% to $5.1 billion, even after accounting for compensation credits issued following the January outage.
This quarter's results also included Frontier's financials, the fiber company whose acquisition the company closed on January 20.
What did Verizon do to win your heart in Q1?
Offered better deals.
10%
Lowered my bill as a former AT&T or T-Mobile subscriber.
0%
Didn't raise rates.
10%
Gave me a loyalty discount.
20%
Nothing.
60%
20 Votes
Learning from mistakes
Verizon expects wireless service revenue growth to be flat for the rest of the year as it pivots to customer acquisition. This essentially rules out price hikes.
Last year's dismal performance was largely a self-inflicted wound caused by thoughtless price increases without corresponding increases in value.
By holding prices steady to increase its competitiveness, the company is prioritizing gaining subscribers over margin padding.
It's really that simple
Schulman hasn't done anything groundbreaking so far. He has adopted the tried-and-true strategy of rolling out cutthroat deals, and it's working.
However, Verizon shouldn't break out the sparkling cider just yet. The company trailed rival AT&T, which added 294,000 net new postpaid phone subscribers in Q1.
T-Mobile will report its results tomorrow, April 28, but the company won't disclose postpaid nets.
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Anam Hamid is a computer scientist turned tech journalist who has a keen interest in the tech world, with a particular focus on smartphones and tablets. She has previously written for Android Headlines and has also been a ghostwriter for several tech and car publications. Anam is not a tech hoarder and believes in using her gadgets for as long as possible. She is concerned about smartphone addiction and its impact on future generations, but she also appreciates the convenience that phones have brought into our lives. Anam is excited about technological advancements like folding screens and under-display sensors, and she often wonders about the future of technology. She values the overall experience of a device more than its individual specs and admires companies that deliver durable, high-quality products. In her free time, Anam enjoys reading, scrolling through Reddit and Instagram, and occasionally refreshing her programming skills through tutorials.
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