Home / Business and Economy / Verizon Surprises with Q1 Subscriber Gains
Verizon Surprises with Q1 Subscriber Gains
27 Apr
Summary
- Verizon added 55,000 wireless subscribers, beating analyst expectations.
- Revamped customer offers and bundled plans drove the subscriber increase.
- The company raised its annual profit forecast due to strong Q1 performance.
Verizon has reported a strong first quarter, exceeding expectations by adding 55,000 monthly bill-paying wireless subscribers. This marks the first net gain for the March-ended period in over a decade, defying analyst predictions of a subscriber decrease.
The company's success is attributed to strategic customer offers, including better terms for those switching from rivals, and bundled plans that combine high-speed internet with wireless services. These initiatives are part of a broader effort to revitalize wireless growth and enhance customer retention.
Following this positive performance, Verizon has elevated its annual profit forecast. The company now anticipates adjusted profit for 2026 to be between $4.95 and $4.99 per share, an increase from its previous projection. This upward revision reflects the company's renewed market momentum and strategic effectiveness.
While total quarterly revenue met expectations, wireless service revenue saw an impact from customer credits issued after a January service outage. Despite this, the net subscriber additions and improved profit outlook signal a promising trajectory for Verizon as it focuses on customer-centric strategies.
