Key TakeawaysThe telecom giant delivered 184,000 postpaid phone net additions during Q2, surpassing Wall Street’s projection of 106,000Total revenue declined 0.7% year-over-year to $34.3 billion, falling short of the $35.2 billion consensus forecastAdjusted earnings per share reached $1.30, exceeding the analyst estimate of $1.28Net income decreased to $3.95 billion primarily due to $1.8 billion in pretax special charges, with significant costs related to the newly formed BT Group partnershipThe company upgraded its full-year adjusted EPS forecast to $4.99–$5.04 and increased mobility and broadband service revenue growth expectations to 2.5%–3%Shares of Verizon (VZ) climbed 4% during Friday’s premarket session following the telecommunications company’s Q2 earnings report, which demonstrated accelerating subscriber growth under CEO Dan Schulman’s leadership.Verizon Communications Inc., VZThe wireless carrier reported 184,000 postpaid phone net additions during the quarter, significantly exceeding the FactSet consensus forecast of 106,000. This performance marks a dramatic turnaround from the same period last year when the company experienced net losses in this category.Quarterly revenue totaled $34.3 billion, representing a 0.7% decline from the prior year and missing the Street’s $35.2 billion projection. Management attributed the shortfall to an approximately 20% plunge in equipment revenue, as consumers kept their devices for extended periods and the company reduced device subsidies.VERIZON $VZ Q2’26 EARNINGS HIGHLIGHTS Revenue: $34.3B (Est. $35.28B) ; -0.7% YoY Adj. EPS: $1.30 (Est. $1.27) ; +6.6% YoY Mobility & Broadband Service: $23.4B; +2.8% YoY Postpaid Phone Net Additions: 184,000 (Est. 103,900) Adj EBITDA: $13.7B; +7.2% YoY… pic.twitter.com/tczfwp2VAZ— Wall St Engine (@wallstengine) July 24, 2026However, this revenue shortfall may not signal underlying trouble for wireless sector investors. The decline stems from an intentional pivot away from expensive promotional campaigns, a strategic initiative Schulman emphasized as a top priority upon assuming the CEO position last October.Adjusted earnings per share came in at $1.30, rising from $1.22 in the year-ago period and topping the analyst consensus of $1.28.Reported net income dropped substantially to $3.95 billion, or 92 cents per share, compared with $5.12 billion, or $1.18 per share, in the prior-year quarter. The decline resulted from $1.8 billion in pretax special charges.BT Partnership Creates One-Time ChargeThe largest component of that charge was a $746 million loss associated with Verizon’s international operations agreement with BT Group. Under the arrangement announced last month, both telecommunications firms merged their global operations into a unified joint venture, enabling each company to concentrate more resources on their respective domestic markets.Verizon also reported 348,000 net broadband connections added during the quarter. Combined mobility and broadband service revenue increased 2.8% to $23.4 billion.Management projects this growth rate will “approach” 3% during Q3 and accelerate to approximately 4% in Q4.Company Increases Full-Year OutlookThe company elevated its full-year adjusted EPS guidance to $4.99–$5.04, up from the previous range of $4.95–$4.99. The full-year retail postpaid phone net additions target remains unchanged at 875,000 to one million.Verizon also boosted its full-year mobility and broadband service revenue growth forecast to 2.5%–3%, compared to the earlier range of 2%–3%.The previous week, management announced plans to eliminate approximately 3,000 positions and transfer hundreds of company-owned retail locations to franchise operators. Roughly 500 of these reductions affect corporate-level positions.Schulman stated that Verizon has accomplished “a step-change in churn reduction” while simultaneously reducing customer acquisition costs. He characterized the quarterly performance as reflecting the company’s “strongest operating position we have seen in years.”A recently introduced pricing plan provides unlimited data for $45 monthly for existing subscribers, or $30 for new customers switching from competitors — substantially below the standard $55 entry-level price point.The post Verizon (VZ) Stock Jumps 4% on Strong Subscriber Gains in Q2 Earnings appeared first on Blockonomi.