What were Verizon's Q2 2026 earnings results and how did they compare to analyst expectations?

Verizon reported adjusted EPS of $1.30 for Q2 2026, a 6.6% increase year-over-year that exceeded the analyst consensus of $1.28. Adjusted EBITDA reached $13.7 billion, up 7.2% year-over-year, also a record. These figures represented a clear beat on the profitability metrics that analysts weight most heavily for a mature telecom operator. On a GAAP basis, results were weaker. GAAP net income was approximately $3.9 billion, down roughly 22–23% year-over-year, and GAAP EPS came in at $0.92, reflecting the same decline. The divergence is largely explained by $1.8 billion in pre-tax special items in the quarter, including costs related to asset sales, restructuring, and the Frontier Communications acquisition. Total operating revenue was $34.3 billion, a modest 0.7% decline year-over-year. Despite that headline softness, mobility and broadband service revenue grew 2.8% to approximately $23.4 billion, and postpaid phone net additions came in at 184,000. Following the results, Verizon raised its full-year guidance, signaling management confidence in continued margin improvement and cash flow generation.

What is Verizon's adjusted EBITDA margin and why did it reach a record in Q2 2026?

Verizon's adjusted EBITDA margin reached 40.1% in Q2 2026, a record level, corresponding to adjusted EBITDA of $13.7 billion on total operating revenue of $34.3 billion. The margin expansion reflects a structural shift in the company's revenue composition rather than a single quarter's cost-cutting effort. The primary driver is the deliberate transition away from equipment revenue, which carries thin or negative margins, toward recurring service revenue in mobility and broadband, which is substantially higher-margin. Equipment revenue fell approximately 20% year-over-year in Q2 2026, a decline exceeding $1.2 billion, while service revenue grew 2.8%. Because service revenue flows through with much better unit economics, the overall revenue mix became more profitable even as total revenue declined slightly. Cost efficiency initiatives and disciplined capital allocation also contributed. Verizon has publicly emphasized operational cost management as part of its multi-year transformation toward a connectivity and digital infrastructure platform. The record margin is a meaningful data point for investors who assess telecom operators primarily on EBITDA generation and cash conversion rather than top-line growth.

How does Verizon generate free cash flow and what was the H1 2026 free cash flow figure?

Verizon generates free cash flow primarily through its large base of recurring service revenue in wireless mobility and broadband, which produces operating cash flow after covering network operating costs, selling expenses, and interest on its substantial debt load. Capital expenditures, the largest cash outflow after debt service, are then subtracted to arrive at free cash flow. In H1 2026, capital expenditures totaled $8.2 billion, reflecting ongoing 5G network investment and broadband expansion. Cash flow from operations in H1 2026 was $18.4 billion, up 9.9% from $16.8 billion in H1 2025. Free cash flow for the first half reached $10.2 billion, a 16% increase year-over-year. Q2 2026 alone contributed $6.4 billion of free cash flow, up approximately 24% year-over-year, indicating that the second quarter was particularly strong in cash conversion. This free cash flow level is the financial foundation that supports Verizon's dividend payments, which are large and longstanding, as well as its active share repurchase program. The consistent and growing free cash flow profile is a core element of the investment thesis for VZ, distinguishing it from capital-intensive competitors with weaker cash conversion.

What is the difference between Verizon's GAAP EPS and adjusted EPS, and which does the market price?

Verizon's GAAP EPS in Q2 2026 was $0.92, down roughly 22–23% year-over-year. Adjusted EPS for the same quarter was $1.30, up 6.6% year-over-year. The $0.38 gap between the two figures is primarily explained by $1.8 billion in pre-tax special items, which included costs associated with asset sales, restructuring charges, and the Frontier Communications acquisition integration. Under GAAP, these items flow through the income statement; under the adjusted measure, they are excluded. Adjusted EPS is the metric that analysts model and that management guides to, because it is intended to reflect the recurring earnings power of the business stripped of one-time or non-cash items. Consensus estimates, in this case $1.28, are almost always set against the adjusted figure, which is why the $1.30 print was characterized as a beat. GAAP EPS is not irrelevant: it governs reported net income and affects certain legal and regulatory metrics. For a telecom operator like Verizon that regularly incurs restructuring and acquisition costs, the gap between GAAP and adjusted results can persist for extended periods, so both figures merit attention when assessing full financial performance.

Why did Verizon's total operating revenue decline in Q2 2026 despite service revenue growing?

Total operating revenue fell 0.7% year-over-year to $34.3 billion in Q2 2026 because equipment revenue declined approximately 20% year-over-year, a reduction exceeding $1.2 billion. This more than offset the 2.8% growth in mobility and broadband service revenue, which reached approximately $23.4 billion. The net arithmetic result was a modest headline revenue decline even as the higher-quality recurring revenue stream expanded. The sharp drop in equipment revenue reflects lower device upgrade volumes, which fell approximately 27% year-over-year in Q2 2026. This decline is partly a function of consumer behavior, smartphone replacement cycles have lengthened, and partly a consequence of Verizon pulling back on aggressive subsidy-driven upgrade promotions that stimulate short-term device sales at the cost of margin. Lower upgrade activity reduces equipment revenue but generally improves profitability because handset sales often carry thin economics. For analysts tracking Verizon, the divergence between service revenue growth and total revenue decline is not a concern in itself; it is broadly seen as a deliberate and positive mix shift. Service revenue is the metric most closely tied to network monetization and long-term cash generation, while equipment revenue is largely a pass-through category with limited margin contribution.

What is Verizon's share repurchase program and how much has been bought back in 2026?

Verizon has an active share repurchase program with a full-year 2026 target of up to $4.5 billion. Through the first half of 2026, the company repurchased $3.5 billion of shares in total, with $1.0 billion of that occurring in Q2 2026 alone. The pace of buybacks in H1 2026 suggests the company is on track to meet or approach its annual target. Share repurchases for a capital-intensive telecom operator like Verizon represent a notable shift in capital allocation priorities. Historically, telecom companies in this segment directed surplus cash primarily toward debt reduction and dividend maintenance. The resumption of meaningful buybacks reflects confidence in free cash flow durability, H1 2026 free cash flow was $10.2 billion, and a balance sheet that management believes can support both debt obligations and shareholder returns simultaneously. For holders of the CoinUnited VZ CFD, it is worth noting that buybacks affect the underlying share count and can influence earnings-per-share metrics over time, which may in turn affect how the market prices the stock. The CFD tracks that underlying price movement; it does not entitle the holder to any direct participation in the repurchase economics.

How does Verizon's Frontier Communications acquisition affect its broadband strategy?

The Frontier Communications acquisition expands Verizon's fixed-line fiber broadband footprint substantially, extending its reach into markets where it previously had limited or no wireline presence. Frontier operated an extensive fiber-to-the-home network across a broad set of states, and the combination gives Verizon a larger platform for selling converged wireless and broadband bundles, a product structure that tends to improve customer retention and average revenue per account. Broadband is an increasingly important component of Verizon's service revenue growth, which rose 2.8% year-over-year in Q2 2026. The Frontier integration also carries near-term costs; the $1.8 billion in pre-tax special items recorded in Q2 2026 included acquisition-related expenses, which contributed to the gap between GAAP EPS ($0.92) and adjusted EPS ($1.30). Integration costs are expected to continue for several quarters as systems, networks, and workforces are consolidated. Strategically, the acquisition positions Verizon to compete more directly in the home broadband segment alongside cable operators and fiber-first rivals. Fiber broadband carries relatively high margins once the infrastructure is in place, and the combination of mobile and fixed connectivity on a single bill is a retention mechanism that management has identified as a strategic priority for the medium term.

What is Verizon's AI infrastructure deal with Google and how does it affect the business?

Verizon has entered a partnership with Google valued at over $1 billion, focused on AI infrastructure, which represents a meaningful strategic pivot beyond traditional wireless and broadband services. The arrangement positions Verizon's network assets as foundational infrastructure for AI-driven workloads, adding a higher-margin revenue stream that is structurally different from device-dependent equipment sales. The significance lies in diversification. Verizon's core mobility and broadband service revenue grew approximately 2.8% year-over-year in Q2 2026, and AI infrastructure partnerships are intended to expand that recurring revenue base. Rather than competing directly with hyperscalers, Verizon is positioning its physical network as a complementary layer. Whether this deal materially shifts revenue mix in the near term remains an open question, but it signals management's intention to monetize 5G infrastructure beyond consumer and enterprise connectivity contracts.

How does VZ compare to AT&T and T-Mobile in terms of postpaid subscriber growth and margins?

Verizon reported 184,000 postpaid phone net additions in Q2 2026, a positive figure but one that reflects a competitive market where T-Mobile has consistently led the industry in net additions and AT&T has posted competitive numbers in recent quarters. Verizon's subscriber growth has lagged T-Mobile's pace, which is a recurring theme in analyst commentary on the stock. Where Verizon distinguishes itself is on profitability. Its adjusted EBITDA reached $13.7 billion in Q2 2026, with an adjusted EBITDA margin of 40.1%, both record figures. This margin performance reflects disciplined cost management and a mix shift toward higher-margin service revenue. While a direct margin comparison to AT&T or T-Mobile requires their concurrent reported figures, Verizon's 40.1% adjusted EBITDA margin is broadly considered strong for a large-scale U.S. telecom operator. The trade-off, as the Q2 2026 data illustrates, is slower subscriber volume growth relative to peers who have prioritized aggressive promotional activity.

What dividend does Verizon pay and how sustainable is it given current free cash flow?

Verizon is one of the higher-yielding dividend stocks in the U.S. large-cap space, with an annualized dividend that has been maintained and incrementally raised over many years. The sustainability question is best addressed through free cash flow coverage. In H1 2026, Verizon generated $10.2 billion in free cash flow, up 16% year-over-year, and Q2 2026 alone produced $6.4 billion, a 24%-plus increase year-over-year. These figures provide meaningful headroom relative to dividend obligations, even after accounting for capital expenditures of $8.2 billion in H1 2026 and share repurchases of $3.5 billion over the same period. The full-year repurchase target of up to $4.5 billion also competes with dividend payments for cash allocation priority. The trajectory of free cash flow improvement in 2026 suggests the dividend is covered by current operations, though Verizon's elevated debt load from the Frontier acquisition remains a structural consideration for long-term sustainability assessments. Note that CoinUnited's VZ CFD tracks price only and does not confer dividend entitlement.

What are the main risk factors for trading VZ in 2026?

Several risk factors are relevant for traders taking CFD positions on VZ in 2026. Competitive pressure from T-Mobile and AT&T on postpaid subscribers remains ongoing, and sustained promotional pricing by peers could pressure Verizon's service revenue growth. The Frontier Communications acquisition introduces integration risk and adds to an already substantial debt load, which constrains financial flexibility and creates sensitivity to interest rate movements. Equipment revenue volatility is another factor. The 27% decline in device upgrade volumes in Q2 2026 reduced total revenue even as service metrics improved; a reversal, driven by a major device cycle, could swing the revenue line in either direction. Macroeconomic conditions affecting consumer spending, tariff policies impacting device costs, and regulatory developments in spectrum allocation or broadband pricing also represent background risks. Finally, the stock's defensive income characteristics mean it can underperform in risk-on environments where capital rotates toward growth equities. Leverage amplifies all of these dynamics significantly. At 800x leverage on CoinUnited's VZ CFD, even modest price moves produce proportionally large gains or losses on the margin deployed.

How do interest rate changes affect Verizon's stock price?

Verizon is notably sensitive to interest rate movements, for two distinct reasons. First, as a high-dividend telecom stock, VZ is often evaluated relative to fixed-income alternatives. When rates rise, the yield on government bonds and other low-risk instruments increases, making VZ's dividend yield comparatively less attractive and historically pressuring the stock's valuation multiple. When rates fall, the inverse tends to hold. Second, Verizon carries a large debt load that was further increased by the Frontier acquisition. Higher rates raise refinancing costs on maturing obligations, which can compress free cash flow over time. Lower rates reduce that pressure. In practice, Federal Reserve policy communications and movements in the 10-year Treasury yield often correlate with near-term VZ price action, independent of company-specific earnings. Traders using CoinUnited's VZ CFD at up to 800x leverage should account for this macro sensitivity, as rate-driven price moves can be swift and are amplified substantially at high leverage ratios.

What is Verizon's capital expenditure guidance and how does it affect free cash flow projections?

Verizon spent $8.2 billion on capital expenditures in H1 2026, reflecting ongoing investment in 5G network densification, fiber broadband expansion related to the Frontier integration, and network modernization. The company has provided full-year capital expenditure guidance, and the H1 run rate suggests the annual figure will land in the range management has communicated, though the specific full-year number should be verified against Verizon's most recent guidance disclosures. Capital expenditure directly constrains free cash flow, which is calculated as cash from operations minus capex. In H1 2026, cash from operations reached $18.4 billion, up 9.9% year-over-year, while free cash flow came to $10.2 billion, up 16%. The improvement in free cash flow despite substantial capex reflects operating efficiency gains and EBITDA expansion. If Verizon manages to moderate capex growth in H2 2026 while sustaining service revenue momentum, free cash flow could continue expanding, supporting both dividend payments and the up-to-$4.5 billion share repurchase target for the full year.

How does trading VZ as a CFD on CoinUnited differ from buying VZ shares on the NYSE?

Trading VZ on CoinUnited is a CFD position that provides leveraged price exposure to Verizon's share price without conferring any ownership of the underlying stock. There are no shareholding rights, no voting rights, and no dividend entitlement. The position tracks Verizon's price movement, with gains and losses amplified by the leverage applied. CoinUnited offers up to 800x leverage on this instrument, meaning a hypothetical $100 margin deposit controls $80,000 in notional exposure. A 1% move in VZ's price would produce an $800 gain or loss on that position, not $1. Several structural differences apply beyond leverage. Accounts are funded and withdrawn in crypto, so no traditional bank account is needed. By contrast, buying VZ shares on the NYSE involves standard brokerage commissions, trading during exchange hours only, settlement in fiat currency, and actual share ownership with associated dividend and voting rights. The choice between the two approaches depends on objectives: direct ownership for income and corporate rights versus leveraged price exposure for tactical positioning.

What leverage is available on VZ CFDs on CoinUnited and how is margin calculated?

CoinUnited offers up to 800x leverage on the Verizon Communications Inc. CFD. This means a trader controls a notional position 800 times the size of the margin posted. For example, a $100 margin deposit would support up to $80,000 in notional VZ price exposure. The required margin for any given position size is therefore the notional value divided by 800. To illustrate with round numbers: if a trader wants $1,000 of notional exposure to VZ price movements, the margin required is $1,000 ÷ 800 = $1.25. Conversely, if a trader deposits $1,000 as margin, the maximum notional exposure available is $800,000. Gains and losses accrue on the full notional amount, so price moves are amplified proportionally in both directions. The instrument tracks VZ price movements but confers no shareholding, voting rights, or dividends, it is purely price exposure via a CFD position.

Why does 24/7 CFD trading matter for VZ specifically around earnings announcements?

Verizon typically reports quarterly earnings before regular NYSE market hours, meaning the initial price reaction often occurs in pre-market trading that most retail participants cannot access through traditional brokers. This is materially relevant for VZ because its results can diverge significantly between GAAP and adjusted metrics. Q2 2026 illustrated this clearly: GAAP EPS fell roughly 22-23% year-over-year while adjusted EPS of $1.30 beat consensus. A trader using a platform restricted to exchange sessions would be unable to act on that divergence until the NYSE opened, by which point the initial move may have already occurred. Guidance updates, regulatory filings, or macro data releases that intersect with VZ's business, such as interest rate decisions, can also be responded to in real time, regardless of when they occur.

What are pre-tax special items and how did they affect Verizon's Q2 2026 GAAP net income?

Pre-tax special items are charges or gains recorded under GAAP accounting that management designates as non-recurring or non-operational, typically to help analysts isolate underlying business performance. In Q2 2026, Verizon recorded $1.8 billion in pre-tax special items, tied to asset sales, restructuring activities, and costs related to the Frontier Communications acquisition. These items are included in GAAP net income but excluded when calculating adjusted (non-GAAP) figures. Their presence explains much of the divergence between Verizon's GAAP and adjusted results for the quarter. GAAP net income came in at approximately $3.9 billion, down roughly 22-23% year-over-year, and GAAP EPS was $0.92, a sharp decline that contrasts with adjusted EPS of $1.30, which rose 6.6% year-over-year and exceeded analyst consensus of $1.28. Investors and analysts generally focus on adjusted metrics when evaluating Verizon's operational trajectory, as the special items reflect transitional or one-time costs rather than the recurring earnings capacity of the business. However, the GAAP figures remain the legally reported results and are relevant for assessing balance sheet and cash flow impacts over time.

What is Verizon's full-year 2026 guidance and what metrics did management raise after Q2 results?

Following Q2 2026 results, Verizon's management raised full-year guidance on several key metrics, reflecting stronger-than-expected operational performance through the first half. The share repurchase target was increased to up to $4.5 billion for the full year, up from the prior level, after the company had already completed $3.5 billion in repurchases through H1 2026. The raise in guidance was supported by record adjusted EBITDA of $13.7 billion in Q2 (up 7.2% year-over-year) and a record adjusted EBITDA margin of 40.1%, alongside free cash flow of $10.2 billion in H1 2026 (up 16% year-over-year). Cash flow from operations in H1 2026 reached $18.4 billion, up 9.9% compared to $16.8 billion in H1 2025, giving management confidence in the full-year outlook. The guidance revision reflects Verizon's pivot toward higher-margin service revenues in mobility and broadband, which grew approximately 2.8% year-over-year to roughly $23.4 billion in Q2, even as total operating revenue of $34.3 billion declined slightly due to a steep drop in equipment sales. Management's raised targets signal a view that margin and cash flow improvement will continue through the second half of the year.

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VZVerizon Communications Inc.

Schnellzugriffe

Positionsrechner

Positionsgröße (USD)Hebel

Benötigte Margin

$10.00

P&L wenn VZ sich bewegt

+1%+$10.00

+5%+$50.00

+10%+$100.00

Beginnen Sie den Handel mit {leverage}x Hebel

Verizon Communications Inc.

$49.39

+0.24% (24h)

AktienStufe CHandelbar auf CoinUnited.io800x Hebel

Today's SignalNext earnings2026-10-20Last earnings move5.6%2026-07-24Latest quarter revenue$34.25BQ2 2026Gross margin47.2%Q2 2026

How can you trade Verizon Communications Inc.? Verizon Communications Inc. (VZ) is publicly listed. On CoinUnited, eligible users can trade a VZ stock CFD — price exposure that tracks the share price. It is a price CFD, not equity (no shareholder voting; dividends reflected as an adjustment) — with extended / 24-hour trading and leverage, from US$100. Die Zugangsbedingungen hängen von der Rechtsordnung und der Produktverfügbarkeit ab.

Key facts & how to trade

The essentials + how you access it on CoinUnited

Handelbarkeitsvergleich

A CoinUnited stock CFD vs holding the underlying shares — how, when, and in what form you get exposure. The stock price is everywhere; this comparison is the differentiator.

Bedingungen	CoinUnited (CFD)	Holding shares (exchange)
Product form	Stock CFD (price exposure)	Equity ownership
Trading hours	Extended / 24h (by product)	Exchange regular hours
Leverage	Available (by product terms)	None / margin account needed
Shareholder rights	None (no voting; dividends as adjustment)	Voting + dividends
Access	Eligible users, by region + product	Brokerage account required

*Zugang und Mindesteinlage variieren je nach Rechtsordnung und Produktverfügbarkeit.

Kernfakten

Die am häufigsten zitierten Kernfakten dieses Unternehmens, jeweils mit Quelle – ein Schnellreferenz-Kasten für Leser und KI-Engines.

Primary source: Wikidata

Gegründet	1983
Hauptsitz	New York City
Vorstandsvorsitzender	Hans Vestberg
Branche	telecommunications industry
Börsenstatus	Publicly listed: VZExchange
Market cap	$205B (Stand 2026-08-23)CoinUnited reference x SEC shares
P/E	~12.2CoinUnited reference / SEC annual EPS
52-week range	$38.44 – $51.67CoinUnited daily kline
Next earnings	2026-10-20Finnhub
Last earnings move	+5.6% (1d), +7.4% (5d) — 2026-07-24CoinUnited daily kline
CoinUnited-Produkt	Stock CFD — price exposure, not equity (no voting; dividends reflected as adjustment); leverage available, extended/24hCoinUnited-Produktbedingungen

Preis & Marktstruktur

24H Spanne: $49.175→$49.715

24H Tief

$49.175

24H Hoch

$49.715

BID / ASK

$49.34 / $49.43

Diagramm wird geladen...

Company & financials

Business model + audited SEC financials

What Is Verizon Communications Inc. (VZ)?

TL;DR

Verizon Communications (VZ) is a mature U.S. telecom platform generating record adjusted EBITDA margins and expanding free cash flow in 2026, making it a defensive income-oriented instrument with structured leverage potential via CFDs on CoinUnited.

Verizon Communications Inc. is one of the largest telecommunications companies in the United States, headquartered in New York City and listed on the NYSE under the ticker VZ. Its core business covers wireless mobility services, broadband internet (including fiber and fixed wireless access), and enterprise connectivity solutions delivered to both consumer and business customers across the country.

Revenue Architecture: Two Primary Segments

Verizon's Q2 2026 Form 10-Q identifies two reportable operating segments: Consumer and Business.

-Consumer includes postpaid and prepaid wireless plans, Fios fiber broadband, fixed wireless access (FWA) home internet, and related retail and wholesale services. In 2025, the Consumer segment generated approximately $106.81 billion in revenue, making it the dominant revenue engine.

In the first half of 2026, Consumer operating revenues reached $52.695 billion, up 0.8% from $52.266 billion in the comparable 2025 period.

-Business covers enterprise wireless, private networks, managed communications services, and public-sector and small-to-medium business clients. Business segment revenue for 2025 was approximately $29.07 billion. In Q2 2026, Business revenues rose 2.6% year-over-year to $7.2 billion, indicating stabilization and modest growth on the enterprise side.

At the consolidated level, Verizon generated $138.191 billion in revenue for full-year 2025. As of Q2 2026, total operating revenue was $34.3 billion, a modest 0.7% year-over-year decline, a headline figure that requires context.

The Mix Shift: Service Revenue vs. Equipment Revenue

The slight Q2 2026 revenue decline was driven entirely by equipment sales falling roughly 20% year-over-year, a reduction exceeding $1.2 billion, as device upgrade volumes dropped approximately 27%. Service revenue told a different story: mobility and broadband service revenue reached approximately $23.4 billion in Q2 2026, growing 2.8% year-over-year.

This divergence reflects a deliberate strategic shift, Verizon is moving away from hardware-centric income toward higher-margin, recurring service contracts.

Q2 2026 Profitability: Record Metrics

The profitability picture for Q2 2026 reinforces the case for the mix shift. Adjusted EPS of $1.30 exceeded the consensus estimate of $1.28. Adjusted EBITDA reached $13.7 billion, up 7.2% year-over-year, at a record margin of 40.1%. Free cash flow for Q2 2026 was $6.4 billion, up approximately 24% year-over-year, and H1 2026 free cash flow totaled $10.2 billion, up 16% year-over-year.

These results prompted Verizon management to raise full-year guidance and expand the share repurchase target to up to $4.5 billion for 2026.

GAAP net income for Q2 2026 was approximately $3.9 billion, down 22–23% year-over-year, partly reflecting $1.8 billion in pre-tax special items tied to asset sales, restructuring charges, and costs associated with the Frontier Communications acquisition. Adjusted figures strip out these items and show a cleaner picture of underlying operational performance.

Verizon's Q2 2026 beat was part of a broader pattern of blue-chip earnings outperformance; traders tracking sector earnings dynamics can reference the Q2 Earnings Beat Blue-Chip Surge theme for comparative context.

The Frontier Acquisition: Expanding the Fiber Footprint

On January 20, 2026, Verizon completed its $20 billion acquisition of Frontier Communications, a fiber-optic internet provider. The transaction is designed to extend fiber broadband access to nearly 30 million homes and businesses, accelerating Verizon's convergence of national wireless and fixed broadband services.

At year-end 2025, Verizon already had 146.1 million wireless retail connections and added 4.9 million fixed wireless access subscribers during the year. Frontier's fiber assets are intended to reduce dependence on wireless-only revenue and position the company more competitively in the home broadband market.

For context on how large-scale corporate acquisitions are reshaping sector positioning in 2026, see the Media & Homebuilder Acquisition Surge theme.

Scale and Market Position

Verizon's network scale, measured by wireless retail connections, FWA additions, and an expanding fiber footprint post-Frontier, anchors its position as a mature, cash-generative connectivity platform. The stock trades primarily as a defensive income vehicle, characterized by stable recurring service revenue, disciplined capital allocation, and record margins rather than high-growth expansion.

Capital expenditures for H1 2026 totaled $8.2 billion, reflecting ongoing 5G network investment alongside fiber integration.

Zuletzt aktualisiert: 2026-08-17

Wichtige Erkenntnisse

VZ's Q2 2026 adjusted EBITDA margin reached a record 40.1% on $13.7 billion of adjusted EBITDA, demonstrating that margin expansion is outpacing headline revenue growth as equipment sales decline and service revenue scales.
Free cash flow reached $6.4 billion in Q2 2026 alone (+24% YoY) and $10.2 billion for H1 2026 (+16% YoY), providing the cash base that funds both a multi-billion-dollar dividend and a $4.5 billion share repurchase program in 2026.
The 20% YoY collapse in equipment revenue is a structural choice, not a failure: Verizon is deliberately shifting its revenue mix toward higher-margin recurring service income in mobility and broadband, which grew 2.8% YoY to ~$23.4 billion in Q2 2026.
Verizon's AI infrastructure partnership with Google (a deal cited at over $1 billion) signals the company's intent to monetize its network assets beyond traditional subscriber revenue, connecting it to the broader enterprise AI infrastructure capital cycle.
The $1.8 billion in pre-tax special items in Q2 2026, covering asset sales, restructuring, and Frontier acquisition costs, suppressed GAAP net income by roughly 22-23% YoY, creating a significant gap between GAAP EPS ($0.92) and adjusted EPS ($1.30) that traders must parse carefully around earnings releases.

Wichtige Finanzkennzahlen

Audited · SEC filings

Reported figures from the company’s latest SEC filings — each linked to its source filing and period.

$34.25B

Quarterly revenue

Q2 2026 · SEC 10-Q

$3.83B

Net income

Q2 2026 · SEC 10-Q

47.2%

Gross margin

Q2 2026 · FMP

$0.92

Diluted EPS

Q2 2026 · SEC 10-Q

Quarterly revenue

$38B

$35B

$32B

$33.48BQ1 2025

$34.50BQ2 2025

$33.82BQ3 2025

~$36.38BQ4 2025

$34.44BQ1 2026

$34.25BQ2 2026

~ Q4 is not filed as a standalone quarter — it is the annual 10-K figure minus the three filed quarters.

Figures are from the company’s audited SEC filings; each carries its filing source and period. Not investment advice.

Maschinenlesbare Tabelle – dieselben Zahlen, Quelle je Posten

Kennzahl	Value	Quelle
Quarterly revenue (Q2 2026)	$34.25B	SEC 10-Q
Net income (Q2 2026)	$3.83B	SEC 10-Q
Gross margin (Q2 2026)	47.2%	FMP
Diluted EPS (Q2 2026)	$0.92	SEC 10-Q

How Does VZ Compare to AT&T and T-Mobile?

As of August 2026, the U.S. wireless market is effectively a three-carrier oligopoly: Verizon (VZ), AT&T (T), and T-Mobile (TMUS). Each occupies a distinct strategic position, and the Q2 2026 earnings cycle produced a rare opportunity for direct, same-period comparison across all three.

Margin Leadership: A Closer Look at Q2 2026

Verizon's record adjusted EBITDA margin of 40.1% in Q2 2026, up 3 percentage points year-over-year, positions it at the top of the peer group on this metric. AT&T Inc. reported an adjusted EBITDA margin of 39.1% for the same period, a 110 basis point improvement year-over-year and characterized as the highest consolidated margin in the company's recent history.

T-Mobile reported core adjusted EBITDA of $9.5 billion, up 12% year-over-year; its EBITDA margin has expanded from approximately 33.6% to 38.4% over the observed period, reflecting a rapid but still-closing gap to the legacy carriers.

The margin comparison in tabular form:

Carrier	Q2 2026 Adjusted EBITDA	Q2 2026 Adj. EBITDA Margin	YoY Change
Verizon (VZ)	$13.7 billion	40.1% (record)	+300 bps
AT&T (T)	$12.3 billion	39.1% (record)	+110 bps
T-Mobile (TMUS)	$9.5 billion (core)	~38.4% (period estimate)	+480 bps (period)

Verizon leads on absolute margin, but T-Mobile's expansion rate is the steepest, reflecting structural cost leverage following its Sprint integration.

Subscriber Dynamics: Volume vs. Profitability

The three carriers show divergent postures on subscriber growth. AT&T added 432,000 postpaid phone subscribers in Q2 2026, more than twice Verizon's 184,000. T-Mobile added 277,000 net postpaid accounts, exceeding analyst estimates of 259,000.

Verizon's comparatively modest phone net additions reflect its stated preference for profitable subscriber acquisition over volume: management expects full-year 2026 postpaid phone net additions in the upper half of a 750,000–1,000,000 range, implying a measured but improving trajectory.

On broadband, Verizon added 348,000 net customers in Q2 2026 (193,000 fixed wireless access, 155,000 fiber), bringing its total broadband base to 17.1 million. AT&T reported 646,000 internet net additions (367,000 fiber, 279,000 fixed wireless), with a total internet base of 15.5 million, of which 12.9 million are fiber subscribers.

AT&T's fixed wireless subscriber base reached 2.611 million, up 77.4% year-over-year. Fixed wireless and fiber are the primary growth battleground across all three carriers; Verizon's Frontier acquisition is intended to reinforce its fiber position against AT&T Fiber and cable operators.

Growth Profile and Equity Classification

Verizon and AT&T are broadly classified as defensive income equities: high dividend yields, modest revenue growth, and cash flow stability are the primary investment attributes. T-Mobile trades on a structurally different basis, lower yield, higher growth, and a premium valuation that reflects its post-Sprint scale gains and service revenue momentum.

T-Mobile's postpaid service revenue rose 13% year-over-year to $15.9 billion in Q2 2026, and total service revenue grew 9% to $19.0 billion. Average monthly postpaid revenue per account (ARPA) reached $152.91, up approximately 2% year-over-year, with management guiding for 2.5–3% full-year ARPA growth.

This revenue growth rate is materially above what either Verizon or AT&T is currently generating at the top line.

The Q2 Earnings Miss: Multi-Sector Repricing theme is relevant context here: defensive equity valuations in adjacent sectors have shown sensitivity to earnings disappointments this cycle, reinforcing why the record margin prints from both VZ and AT&T carried positive price implications.

Sector Positioning for CFD Traders

For traders using VZ CFD positions on CoinUnited, the peer comparison clarifies the relative-value framework. VZ holds a narrow margin advantage over AT&T and leads both peers on free cash flow growth, but trails AT&T on postpaid phone volume and trails T-Mobile on service revenue growth rates.

T-Mobile's sector-leading Q2 Earnings Beat Blue-Chip Surge positioning reflects a higher-growth narrative; VZ and AT&T compete more directly for institutional income mandates where margin stability and cash return are the primary screens.

VZ is distinguished from entertainment-oriented names in the broader media and communications space, such as Warner Bros. Discovery and The top priority Skydance, by its pure-connectivity model. Verizon derives its valuation from network infrastructure economics and subscriber cash flows, with no legacy content liability on the balance sheet.

Why Trade VZ? Key Drivers, Catalysts, and Risks

Verizon's investment case as of August 2026 rests on three structural pillars: predictable free cash flow generation, an emerging AI infrastructure revenue stream, and a dividend yield that positions the stock as a bond-like income instrument. Each pillar carries its own set of risks. Traders approaching VZ via CFD positions on CoinUnited should understand all three before sizing exposure.

Pillar 1: Free Cash Flow as the Primary Argument

VZ is fundamentally a cash flow story. H1 2026 free cash flow reached $10.2 billion, up 16% year-over-year, against $8.2 billion in capital expenditures over the same period.

That surplus, roughly $2 billion after capex in just six months, funds three simultaneous priorities: dividend payments, share repurchases ($3.5 billion in H1 2026, with a full-year target of up to $4.5 billion), and debt service on the elevated balance sheet inherited from the Frontier acquisition.

The dividend coverage picture is reinforced by historical data. In 2024, free cash flow of $18.7 billion covered an approximately $11.3 billion annual dividend obligation by roughly 1.6x, according to Alphabetastock. Morningstar notes that 2025 dividends totaled $11.5 billion, representing approximately 60% of free cash flow, leaving the remainder for other capital allocation.

Management guided 2026 free cash flow growth of 9–10% year-over-year, with adjusted EPS forecast at $4.99–$5.04 per share, according to Reuters. Forward-looking projections from DRiP Investing place free cash flow around $21.5 billion, implying a payout ratio in the 45–60% range.

The dividend per share stands at $2.105 in 2026, with a payout ratio of approximately 73% of GAAP earnings, elevated by conventional standards, but within the normal range for large-cap U.S. telecoms where cash flow, not GAAP earnings, is the operative coverage metric.

As Morningstar's equity research summarized: "The payout consumes less than 60% of free cash flow, providing plenty of cushion to maintain this income stream for shareholders."

Pillar 2: AI Infrastructure as an Incremental Catalyst

In July 2026, Verizon announced a dark fiber connectivity agreement with Google valued at more than $1 billion, connecting AI data centers through Verizon's fiber and edge infrastructure under its AI Connect initiative, according to Reuters and Light Reading.

This deal is structurally significant beyond its headline value: it positions Verizon's low-latency fiber and private 5G network assets as critical connectivity layers for enterprise AI workloads, a deployment category that is scaling rapidly.

The broader capital reallocation into AI infrastructure is documented in the AI Infrastructure Capital Reallocation Wave theme, which tracks how hyperscalers and enterprises are directing spending into the physical network layer.

For Verizon, this creates potential incremental service revenue that operates outside traditional subscriber metrics, enterprise contracts tied to data center connectivity rather than consumer handset additions. Management guided mobility and broadband revenue growth of 2.5–3% for 2026, up from a prior 2–3% range.

Pillar 3: Subscriber Momentum and Competitive Positioning

Postpaid phone net additions of 184,000 in Q2 2026 represent stable but modest momentum in a mature domestic wireless market. The more consequential growth vectors are fixed wireless access home broadband, where Verizon competes directly against cable incumbents, and enterprise private 5G networks.

Device upgrade volumes fell approximately 27% year-over-year in Q2 2026, contributing to the roughly 20% decline in equipment revenue. This drag on headline revenue is structural in the near term but does not affect service revenue economics directly.

Key Risks

Balance sheet leverage. The Frontier acquisition and prior M&A have left Verizon carrying elevated total debt. Debt service absorbs a portion of free cash flow that would otherwise be available for deleveraging or additional returns. This constrains financial flexibility.

GAAP vs. adjusted earnings divergence. Q2 2026 GAAP EPS was $0.92 against adjusted EPS of $1.30, a spread of $0.38, driven primarily by $1.8 billion in pre-tax special items (asset sales, restructuring, Frontier acquisition charges). Traders monitoring earnings releases must distinguish between these two metrics, as GAAP results will remain volatile through the integration period.

The Q2 Earnings Miss: Multi-Sector Repricing theme provides context on how earnings-day surprises have repriced income stocks across sectors in 2026.

Interest rate sensitivity. VZ's dividend yield is evaluated directly against risk-free rates by income-oriented investors. A sustained rise in Treasury yields compresses the relative attractiveness of the dividend and can pressure the equity multiple, independent of operating performance.

Competitive pressure. AT&T and T-Mobile compete directly across consumer wireless and broadband. In fixed wireless access specifically, cable operators with existing home infrastructure present a pricing and installation-cost advantage. Subscriber acquisition costs can rise if competitive intensity increases.

Equipment revenue volatility. Consumer device upgrade cycles are cyclical and partially driven by handset innovation timelines. A further elongation of upgrade cycles would continue to pressure equipment revenue and total operating revenue, even if service economics improve.

CFD Leverage Mechanics on CoinUnited

CoinUnited offers up to 800x leverage on the VZ CFD, price exposure that tracks the underlying without conferring shareholding, voting rights, or dividend entitlement. To illustrate leverage arithmetic: a $100 margin position at 100x leverage controls $10,000 of notional VZ exposure. A 1% move in the underlying generates a $100 gain or loss, equal to the full initial margin.

At higher multiples, the liquidation threshold moves proportionally closer to the entry price. Given VZ's profile as a low-volatility income instrument, leverage calibration relative to intraday and earnings-period ranges is a primary risk management consideration.

Valuation & peers

Multiples vs peers + third-party analyst targets

Peer Valuation Comparison

How this stock trades versus comparable listed companies on trailing valuation multiples.

Company	Market cap	P/E	P/S
Verizon Communications Inc. · VZ	$206.5B	12.9x	1.5x
T-Mobile US, Inc. · TMUS	$196.3B	19.1x	2.1x
The Walt Disney Company · DIS	$187.1B	22.2x	1.9x
AT&T Inc. · T	$173.4B	8.4x	1.4x
Spotify Technology S.A. · SPOT	$109.7B	27.4x	5.0x
Comcast Corporation · CMCSA	$95.3B	8.7x	0.8x

Third-party ratios (FMP), trailing twelve months. Multiples vary by data window; a negative or absent P/E means the company is loss-making. Not investment advice.

Analyst Price Targets

Hold

Wall Street sell-side analysts’ consensus 12-month price target and rating for this stock.

Consensus target

$49.64+0.5%

Target range

$46.00 – $56.00

Price-target coverage

9 analysts

Analyst ratings (61)

Buy 23Hold 35Sell 3

Targets by firm

Latest target from each of the 7 firms whose call was reported in the past 180 days. Each row links to the report.

Firm	Target	vs current
Morgan Stanley2026-07-27 · TheFly	$52.00	+5.3%
RBC Capital2026-07-27 · TheFly	$47.00	-4.8%
Scotiabank2026-07-27 · StreetInsider	$52.50	+6.3%
Barclays2026-07-27 · TheFly	$46.00	-6.9%
Wells Fargo2026-07-27 · TheFly	$47.00	-4.8%
Bernstein2026-07-27 · StreetInsider	$47.00	-4.8%
Raymond James2026-03-12 · StreetInsider	$56.00	+13.4%

Source: aggregated sell-side analyst consensus · as of 2026-08-23. These are third-party analyst opinions — not CoinUnited’s view, not a price prediction, and not investment advice.

Scenario calculator

Pick a third-party reference level and see what it implies at leverage. Reference levels only - not a CoinUnited forecast.

Scenario price

$49.39

+0.0% vs current

Your margin (USD)Leverage

Position size $100,000.00

P&L at this scenario (long)

+$0.00

Loss if liquidated -$1,000.00 (the full margin)

Liquidation price (long): $48.89 — a move of -1.0%

Trade VZ

Simplified: excludes fees, funding and slippage. Reference levels are third-party marks (CoinUnited daily kline; aggregated sell-side analyst targets), not forecasts. Leverage magnifies losses as much as gains - at high leverage a small adverse move liquidates the position. Not investment advice.

Catalysts & news

Dated third-party developments · newest first

Katalysator-Zeitachse

Dated third-party developments that move the stock — newest first, each classified bullish or bearish and linked to its source.

2026-10-20
Next quarterly earnings◆ Scheduled
Next scheduled quarterly earnings report (2026-10-20). Revenue, margins and guidance are the near-term driver; the outcome is not known in advance.
Finnhub
2026-04-27
Verizon raises 2026 earnings per share▲ Bullisch
Verizon now projects its adjusted earnings for 2026 to be $495 and4. per share, an increase from its previous estimate of $4.90 to $4.95.
Reuters
2026-01-30
Company raises 2026 earnings guidance▲ Bullisch
The company anticipates adjusted earnings for 2026 to be in the range of $4.90 to $4.95 per share, compared to the forecast of $4.76 according to data from LSEG.
CNBC
2025-04-22
Verizon confident in 2025 targets▲ Bullisch
Verizon said it remains confident in achieving its 2025 goals and full-year guidance.
The Wall Street Journal

Maschinenlesbare Tabelle – dieselben Entwicklungen, mit Quellen

Recent third-party developments classified bullish / bearish for the stock; verbatim, sourced.

Datum	Entwicklung	Richtung	Quelle
2026-10-20	Next scheduled quarterly earnings report (2026-10-20). Revenue, margins and guidance are the near-term driver; the outcome is not known in advance.	◆ Scheduled	Finnhub
2026-04-27	Verizon now projects its adjusted earnings for 2026 to be $495 and4. per share, an increase from its previous estimate of $4.90 to $4.95.	▲ Bullisch	Reuters
2026-01-30	The company anticipates adjusted earnings for 2026 to be in the range of $4.90 to $4.95 per share, compared to the forecast of $4.76 according to data from LSEG.	▲ Bullisch	CNBC
2025-04-22	Verizon said it remains confident in achieving its 2025 goals and full-year guidance.	▲ Bullisch	The Wall Street Journal

Wichtige Erkenntnisse

Zuletzt aktualisiert:: 2026-07-24

•VZ meldete für Q1 2026 einen bereinigten EPS von 1,28 $ gegenüber 1,21 $ Konsens – ein Übertreffen von ~6 % – und hob die EPS-Prognose für das Gesamtjahr 2026 auf einen Mittelwert von ~4,97 $ an, über dem Konsens von 4,91 $.
•Bei 50-facher Hebelwirkung entspricht die vorbörsliche Kurslücke von 3–5 % einer Rendite von 150–250 % für Long-VZ-CFD-Inhaber; Short-Positionen mit >30-facher Hebelwirkung stehen nahe 45,54 $ vor einem akuten Liquidationsrisiko.
•Erste positive Netto-Neukunden für Postpaid-Telefone im 1. Quartal (~55.000) seit 2013 signalisieren eine Stabilisierung des Wettbewerbs – inkrementell bullisch für AT&T und T-Mobile durch Sektor-Read-Through.
•Als S&P 500-Mitglied sorgt der Ergebnisüberhang für einen moderaten positiven Schub für die Gewichtung der Kommunikationsdienste; Value-Strategien mit Dividendenorientierung erhalten inkrementelle fundamentale Unterstützung.
•Wichtiger Widerstand bei 45,54 $ (24h-Hoch); Unterstützung bei 42,74 $ – ein Scheitern der Rückeroberung von 45 $ bei Folgevolumen würde signalisieren, dass der Markt die Prognoseanhebung abschwächt.

Neueste Impulse

2026-07-24AktienBullisch

Verizon-Ergebnis übertrifft Erwartungen & Prognoseanhebung: Hebeleffekt auf VZ CFDs und Auswirkungen auf den Telekommunikationssektor

Laut Yahoo Finance und Investors Business Daily meldete Verizon Communications Inc. (NYSE: VZ) für das 1. Quartal 2026 einen bereinigten Gewinn pro Aktie (EPS) von 1,28 $, womit die Konsensschätzung v

2026-07-24AktienBullisch

Verizon Q1 2026 Ergebnis übertrifft Erwartungen: EPS-Überraschung & angehobene Prognose signalisieren Regimewechsel für VZ CFD-Trader

Verizon Communications Inc. (VZ) meldete für das Q1 2026 einen bereinigten EPS von 1,28 USD, womit die Konsensschätzung von rund 1,21 USD laut Daten von Yahoo Finance und öffentlichen Gewinnmeldungen

2026-06-29AktienBullisch

BT Group und Verizon bilden internationales Enterprise-JV für 4 Mrd. USD – Was das für VZ und Telekom-Trader bedeutet

Wie Yahoo Finance berichtet, haben BT Group PLC und Verizon Communications Inc. vereinbart, ihre internationalen Enterprise-Geschäfte zu einem 50:50 Joint Venture (JV) zusammenzuführen, das auf große

2026-04-27AktienBullisch

Verizon Abonnentenmomentum & FY26 Prognoseanhebung: Hebelwirkungen auf VZ CFDs

Verizon Communications berichtete über ein kontinuierliches Wachstum des Abonnentenportfolios, wobei Werbeaktivitäten bei drahtlosen und Breitbandnettozugängen die Grundlage für mehrere aufeinanderfol

Alle VZ Impulse anzeigen

Ownership

Top institutional holders (SEC Form 13F)

Top Institutional Holders

SEC 13F

The largest institutional shareholders, from SEC Form 13F filings — who holds the stock and how much.

Institution	Shares	Value	% of shares
BlackRock, Inc.	368.0M	$18.5B	8.86%
Vanguard Capital Management LLC	260.2M	$13.1B	6.26%
State Street Corp.	214.9M	$10.8B	5.17%
Charles Schwab Investment Management Inc.	112.9M	$5.7B	2.72%
Geode Capital Management, LLC	106.2M	$5.3B	2.56%
Vanguard Portfolio Management LLC	76.8M	$3.9B	1.85%
Morgan Stanley	74.1M	$3.7B	1.78%
Bank of America Corp.	62.1M	$3.1B	1.49%
GQG Partners LLC	45.7M	$2.3B	1.10%
Northern Trust Corp.	44.3M	$2.2B	1.07%

Source: SEC Form 13F filings · 3231 institutional holders · as of 31-MAR-2026. 13F data is quarterly and lagged (filed ~45 days after quarter-end) and covers US institutional managers (>$100M AUM) only — not insiders, retail, or foreign holders. Not investment advice.

How to trade it

Trading stock CFDs on CoinUnited + strategy

Status des Handelsregimes

Hebel

800x

(Maximum auf CoinUnited.io)

Volatilität

Niedrig

(1.09% 24h)

So funktioniert der VZ-CFD

Vor dem Handel: verstehe genau, was du bekommst, was nicht und wo die Risiken liegen.

Was du bekommst

Preisexposure auf den Referenzpreis von VZ (synthetischer Differenzkontrakt), folgt dem CoinUnited-Referenzpreis auf und ab.

Was du nicht bekommst

It is not equity: no shares, no voting rights; dividends are reflected as an adjustment, not paid to you.

Basisrisiko (Basis risk)

The CoinUnited reference tracks the share price but can differ from the exchange price; extended-hours liquidity is thinner.

Hebel-Illustration: Mit $100 Margin × 800-fachem Hebel baust du eine nominale Position von $80,000 auf; erreicht der Preis in Gegenrichtung das Liquidationsniveau, wird zwangsliquidiert. Hoher Hebel verstärkt Gewinne und Verluste sowie das Liquidationsrisiko.

Trading conditions on CoinUnited

Fee schedule as of 2026-08-19

Trading fee: 0.070%
Trading hours: Market session
Maximum leverage: 800x

See the full fee schedule →

Trading VZ CFDs on CoinUnited.io

CoinUnited.io offers price exposure to Verizon Communications Inc. (VZ) through a Contract for Difference (CFD), a leveraged instrument that tracks the underlying share price without conferring shareholding, voting rights, or dividend entitlements.

Leverage Mechanics and Margin Arithmetic

At the August 14, 2026 NYSE close price of $48.50, the relationship between margin posted, leverage applied, and notional exposure is straightforward.

Leverage	Margin Posted	Notional Exposure	1% Move = P&L
1x	$48.50	$48.50	$0.49
100x	$48.50	$4,850	$48.50
400x	$48.50	$19,400	$194.00
800x	$48.50	$38,800	$388.00

The calculation is consistent across all multiples: margin × leverage = notional; notional × move% = unrealized P&L. At 800x, a 0.125% adverse move against a $48.50 margin position eliminates the entire margin balance.

Position sizing relative to total account equity is the primary risk management variable at elevated multiples, a position representing 1% of a $10,000 account at 100x carries $1,000 in notional exposure; the same account weight at 800x carries $8,000.

CoinUnited charges no commissions, no spread markups in the fee line, and no exchange access fees on VZ CFDs. For a position turned over frequently around earnings events, the absence of per-trade cost is meaningful: a trader opening and closing a VZ position five times around a single earnings cycle pays the same total fee as opening it once.

24/7 Access and VZ-Specific Event Windows

The NYSE cash session runs approximately 9:30 AM to 4:00 PM ET on business days. Verizon's most significant price-moving disclosures routinely occur outside those hours. Q2 2026 earnings were released on July 24, 2026, before the NYSE open, adjusted EPS of $1.30 beat consensus of $1.28, and management raised full-year 2026 adjusted EPS growth guidance to 6–7%.

Traders holding VZ CFD positions on CoinUnited could respond to those results in real time during the pre-market window, rather than queuing for the 9:30 AM open alongside the broader equity market.

The same structural advantage applies to other VZ-specific catalysts: FCC regulatory decisions, M&A announcements (including updates related to the Frontier acquisition), and macro data releases that print on weekends or U.S. public holidays. VZ's ex-dividend dates, January 12, April 10, and July 10, 2026, are also pre-market events.

The $0.7075 per share dividend declared for the April and July cycles is priced into the underlying at the open of the ex-dividend day; a CFD trader aware of this dynamic can position in advance or manage existing exposure without waiting for session open.

GAAP vs. Adjusted EPS: A VZ-Specific Risk Factor

Verizon's earnings structure requires traders to distinguish between GAAP and adjusted figures before every release. In Q2 2026, GAAP EPS was $0.92 while adjusted EPS was $1.30, a $0.38 difference, or approximately 41%, attributable to $1.8 billion in pre-tax special items including asset sales, restructuring charges, and Frontier acquisition-related costs.

GAAP net income fell roughly 22–23% year-over-year; adjusted EPS rose 6.6%.

The gap is not a one-off. In full-year 2025, GAAP EPS declined to $4.06 from $4.14 in 2024, while adjusted EPS rose to $4.71 from $4.59. A leveraged CFD position entered on an expectation of a GAAP beat, but evaluated by the market against adjusted EPS, can produce unexpected P&L if the trader has not pre-identified which metric drives the initial price reaction.

Historically, consensus estimates and the immediate post-earnings price move in VZ track adjusted EPS and adjusted EBITDA. In Q2 2026, adjusted EBITDA reached $13.7 billion at a record 40.1% margin, up 7.2% year-over-year; these were the figures management emphasized, and they anchored market reaction more than the GAAP net income decline.

Equipment Revenue Volatility at Earnings

A second VZ-specific risk factor for leveraged positions is equipment revenue. In Q2 2026, equipment revenue fell nearly 20% year-over-year, a reduction exceeding $1.2 billion, as device upgrade volumes dropped approximately 27%.

This single line item was sufficient to pull total operating revenue to $34.3 billion, a 0.7% year-over-year decline, even as mobility and broadband service revenue grew 2.8% to approximately $23.4 billion.

A CFD position entered ahead of earnings based primarily on service revenue and margin trends, both of which were positive, could face an adverse move in the first minutes after the release if headline revenue misses dominate the algorithmic and headline-reading response before the EBITDA and free cash flow narrative is processed.

For a detailed analysis of how this dynamic played out around the Q2 2026 print, see the Verizon Earnings Beat & Guidance Raise analysis.

At high leverage multiples, the sequencing of market interpretation, headline revenue first, then quality-of-earnings second, can produce rapid margin erosion in the minutes between release and analyst commentary.

Pre-defining the reaction metric, setting margin thresholds relative to account equity, and recognizing VZ's structural GAAP-to-adjusted divergence are the foundational risk management steps for any leveraged CFD position around a Verizon earnings date.

Broader multi-sector earnings dynamics in 2026 are tracked under the Q2 Earnings Beat Blue-Chip Surge theme for additional context.

⚡800x💰0% Fee⏱️10s Start🌐24/7

Bereit, VZ zu handeln?

Bis zu 800x Hebel

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Understand the risks

Read before trading

Handelsrisiken

Ehrlich und offen aufgeführte Risiken – ein Zeichen des Respekts gegenüber Tradern und zugleich eine YMYL-Compliance-Anforderung.

Hebel / Liquidation

Bei hohem Hebel kann schon eine kleine Gegenbewegung eine Zwangsliquidation auslösen und die gesamte Margin vernichten.

High-valuation volatility

A high P/E stock is very sensitive to interest-rate and narrative shifts; swings can be large.

Session gaps

After-hours and weekend gaps; extended-hours liquidity is thinner than the regular session.

Basisrisiko (Basis risk)

The CFD reference price can diverge from the exchange execution price.

Earnings volatility

Price swings widen around earnings dates and other scheduled disclosures.

Regulatory / event

Recalls, policy changes, or company-specific events can cause sharp moves.

Reference

FAQ & glossary

Häufig gestellte Fragen

Verizon Communications Inc. is one of the largest telecommunications companies in the United States, providing wireless mobility services, broadband internet, and business connectivity solutions to tens of millions of consumers and enterprise customers. The ticker VZ on the NYSE represents an equity ownership stake in the parent holding company that consolidates these operations. Shareholders are entitled to dividends and voting rights at shareholder meetings. On CoinUnited, the VZ instrument is a CFD, a leveraged price-exposure contract that tracks the underlying Verizon share price. It does not confer shareholding, voting rights, or dividend entitlements. Strategically, Verizon in 2026 functions as a mature, cash-generative connectivity platform. Its revenue base centers on recurring service subscriptions in wireless mobility and broadband, supplemented by equipment sales and growing digital infrastructure partnerships. The market generally treats VZ as a defensive income vehicle, shaped by its dividend history and improving free cash flow profile.

Glossar

Key listed-stock and CFD terms, one line each — so the page is unambiguous for both readers and AI answer engines.

Stock CFD	A contract for difference on a share price — price exposure only, not ownership of the underlying shares.
Extended hours	Pre-market and after-hours trading outside the exchange’s regular session.
Basis risk	The risk that the CFD reference price and the exchange execution price do not move in step.
P/E	Price-to-earnings ratio = share price ÷ earnings per share; a common valuation gauge.
Gross margin	Gross profit ÷ revenue; reflects product-level profitability.
EPS	Earnings per share = net income ÷ diluted shares outstanding.

Symbol

Märkte

Aktien

Sektor

Telecom

CU-Produktcode

Quellenübersicht

Every figure on this page traces to a primary or named third-party source. "As of" dates the source; "last checked" dates our most recent read of it.

Every figure here is also published as machine-readable data, and re-checked on a schedule so a stale one shows up as stale. View the raw data

Field	Value	Source	As of	Last checked
Reference price	live	CoinUnited stock CFD reference (live)	—	—	—
Market cap	$205B	CoinUnited reference x SEC shares	2026-08-23	2026-08-23	—
P/E	~12.2	CoinUnited reference / SEC annual EPS	—	2026-08-23	—
52-week range	$38.44 – $51.67	CoinUnited daily kline	—	2026-08-23	—
Next earnings	2026-10-20	Finnhub	—	2026-08-23	—
Quarterly revenue	$34.25B	SEC 10-Q	Q2 2026	2026-08-23	View
Net income	$3.83B	SEC 10-Q	Q2 2026	2026-08-23	View
Gross margin	47.2%	FMP	Q2 2026	2026-08-23	View
Diluted EPS	$0.92	SEC 10-Q	Q2 2026	2026-08-23	View
Institutional ownership	10 top holders	SEC Form 13F	31-MAR-2026	2026-08-23	View
Analyst price targets	$49.64 consensus	Aggregated sell-side analyst consensus	2026-08-23	2026-08-23	—
Peer valuations	6 peers	Third-party ratios (FMP), trailing twelve months	2026-08-23	2026-08-23	—
Founded	1983	Wikidata	—	2026-08-23	—
Headquarters	New York City	Wikidata	—	2026-08-23	—
CEO	Hans Vestberg	Wikidata	—	2026-08-23	—
Industry	telecommunications industry	Wikidata	—	2026-08-23	—
CoinUnited product	Stock CFD — price exposure, not equity (no voting; dividends reflected as adjustment); leverage available, extended/24h	CoinUnited product terms	—	2026-08-23	—

Über den Autor

CoinUnited.io Research Team

This Verizon Communications Inc. page is compiled by CoinUnited.io's research team: analysts covering listed equities and global markets, working from primary filings and named third-party data rather than opinion.

Unsere Forschungs-Methodik

Every figure is traced to a primary or named third-party source and dated: financial statements from the company’s SEC filings, institutional ownership from Form 13F, analyst targets from aggregated third-party coverage, and market data from the CoinUnited reference price. The Source Map on this page lists each one with its source and the date we last checked it.

Disclaimer: content is for informational and educational purposes only and is not personalized financial advice. A stock CFD carries significant risk and provides price exposure only, not equity ownership. Always conduct your own research and consult a qualified financial advisor.

Haftungsausschlüsse & Verweise

Wichtiger Haftungsausschluss zum Risiko

A CoinUnited stock CFD gives price exposure to Verizon Communications Inc. only, not equity ownership: no shareholder voting rights, no dividends, and no settlement in the underlying share.

Leverage magnifies losses as well as gains, and a position can be liquidated long before the underlying share price recovers. The underlying listing trades on exchange hours, so the reference price can gap between sessions.

Benutzer sollten eigene Recherchen durchführen und sich vor Investitionsentscheidungen mit qualifizierten Finanzexperten beraten. Die Ersteller und Betreiber dieser Plattform übernehmen keine Verantwortung für finanzielle Verluste oder sonstige Schäden, die aus der Verwendung der bereitgestellten Informationen entstehen könnten.

Leveraged trading is extremely risky and you may lose your entire deposit.

Methodologie-Übersicht

Figures on this page are compiled from primary and named third-party sources, not produced by a forecasting model. Each one carries its source and date in the Source Map above.

Financial statements: the company’s own SEC filings (10-K / 10-Q), read from XBRL
Market data: the CoinUnited reference price and daily closes
Institutional ownership: SEC Form 13F quarterly filings
Analyst targets: aggregated third-party sell-side coverage — third-party opinion, not CoinUnited’s view
Peer multiples: third-party trailing-twelve-month ratios

CoinUnited does not publish a price forecast or target for Verizon Communications Inc..

Letzte Überprüfung der Methodologie:

Bereit, mit dem Handel von Verizon Communications Inc. zu beginnen?

Schließen Sie sich Tausenden von Händlern an und beginnen Sie noch heute Ihre Handelsreise mit Verizon Communications Inc.. Erhalten Sie Zugang zu fortschrittlichen Handelswerkzeugen und wettbewerbsfähigen Gebühren.

Handel VZ/USDT Jetzt anmelden

VZ

Verizon Communications Inc.

$49.39

▲+0.24%24h

24h Low24h High

$49.17$49.72

Bid

$49.34

Ask

$49.43

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Up to 800x leverage•Tiered fees

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$49.39+0.24%

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Schnellzugriffe

Positionsrechner

Verizon Communications Inc.

Key facts & how to trade

Handelbarkeitsvergleich

Kernfakten

Preis & Marktstruktur

Company & financials

What Is Verizon Communications Inc. (VZ)?

Revenue Architecture: Two Primary Segments

The Mix Shift: Service Revenue vs. Equipment Revenue

Q2 2026 Profitability: Record Metrics

The Frontier Acquisition: Expanding the Fiber Footprint

Scale and Market Position

Wichtige Erkenntnisse

Wichtige Finanzkennzahlen

Quarterly revenue

How Does VZ Compare to AT&T and T-Mobile?

Margin Leadership: A Closer Look at Q2 2026

Subscriber Dynamics: Volume vs. Profitability

Growth Profile and Equity Classification

Sector Positioning for CFD Traders

Why Trade VZ? Key Drivers, Catalysts, and Risks

Pillar 1: Free Cash Flow as the Primary Argument

Pillar 2: AI Infrastructure as an Incremental Catalyst

Pillar 3: Subscriber Momentum and Competitive Positioning

Key Risks

CFD Leverage Mechanics on CoinUnited

Valuation & peers

Peer Valuation Comparison

Analyst Price Targets

Targets by firm

Scenario calculator

Catalysts & news

Katalysator-Zeitachse

Wichtige Erkenntnisse

Neueste Impulse

Verizon-Ergebnis übertrifft Erwartungen & Prognoseanhebung: Hebeleffekt auf VZ CFDs und Auswirkungen auf den Telekommunikationssektor

Verizon Q1 2026 Ergebnis übertrifft Erwartungen: EPS-Überraschung & angehobene Prognose signalisieren Regimewechsel für VZ CFD-Trader

BT Group und Verizon bilden internationales Enterprise-JV für 4 Mrd. USD – Was das für VZ und Telekom-Trader bedeutet

Verizon Abonnentenmomentum & FY26 Prognoseanhebung: Hebelwirkungen auf VZ CFDs

Ownership

Top Institutional Holders

How to trade it

Status des Handelsregimes

So funktioniert der VZ-CFD

Trading conditions on CoinUnited

Trading VZ CFDs on CoinUnited.io

Leverage Mechanics and Margin Arithmetic

24/7 Access and VZ-Specific Event Windows

GAAP vs. Adjusted EPS: A VZ-Specific Risk Factor

Equipment Revenue Volatility at Earnings

Bereit, VZ zu handeln?

Understand the risks

Handelsrisiken

Reference

Häufig gestellte Fragen

1. What is Verizon Communications Inc. and what does VZ stock represent?

2. What were Verizon's Q2 2026 earnings results and how did they compare to analyst expectations?

3. What is Verizon's adjusted EBITDA margin and why did it reach a record in Q2 2026?

4. How does Verizon generate free cash flow and what was the H1 2026 free cash flow figure?

5. What is the difference between Verizon's GAAP EPS and adjusted EPS, and which does the market price?

6. Why did Verizon's total operating revenue decline in Q2 2026 despite service revenue growing?

7. What is Verizon's share repurchase program and how much has been bought back in 2026?

8. How does Verizon's Frontier Communications acquisition affect its broadband strategy?

9. What is Verizon's AI infrastructure deal with Google and how does it affect the business?

10. How does VZ compare to AT&T and T-Mobile in terms of postpaid subscriber growth and margins?

11. What dividend does Verizon pay and how sustainable is it given current free cash flow?

12. What drove the 27% decline in device upgrade volumes at Verizon in Q2 2026?

13. What are the main risk factors for trading VZ in 2026?

14. How do interest rate changes affect Verizon's stock price?

15. What is Verizon's capital expenditure guidance and how does it affect free cash flow projections?

16. How does trading VZ as a CFD on CoinUnited differ from buying VZ shares on the NYSE?

17. What leverage is available on VZ CFDs on CoinUnited and how is margin calculated?

18. Why does 24/7 CFD trading matter for VZ specifically around earnings announcements?

19. What are pre-tax special items and how did they affect Verizon's Q2 2026 GAAP net income?

20. What is Verizon's full-year 2026 guidance and what metrics did management raise after Q2 results?

Glossar

Symbol