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A major U.S. telecom company that runs one of the country's largest wireless networks and sells home internet under the Fios fiber brand, serving consumers, businesses, and government agencies. It was born in 2000 from the merger of Bell Atlantic and GTE, and its name blends "veritas" (Latin for truth) with "horizon."
Q2 2026 net income fell 23% to $3.8B on a $746M held-for-sale loss and severance charges
dropped 23% this quarter on one-off disposal and restructuring costs. fell 0.7% to $34.3B and fell 22% to $0.92 as a $746M and $397M in severance offset Consumer service growth. The quarter's earnings were depressed by non-recurring items, leaving the underlying business steady but the acquisition integration unfinished.
Key takeaways
fell 22.9% to $3.9B, pressured by a $746M loss on classifying an international wireline business as held for sale, $397M in severance charges, and $258M in — all non-recurring or one-off items.
declined 0.7% to $34.3B as Consumer wireless equipment revenue fell 22.2% to $4.2B from a strategic decrease in upgrade volumes, while Consumer service revenue grew 3.3% to $19.6B from fiber broadband inclusion.
Business rose 2.6% to $7.2B, with Other up 9.6% to $2.6B from 's legacy wireline, offsetting slight mobility declines — the second consecutive quarter of Business growth after a year of drops.
Section summaries
Management's Discussion and Analysis
Q2 2026 revenue fell 0.7% to $34.3B as lower wireless equipment sales offset service growth; net income dropped 23% on a $746M held-for-sale loss.
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Consolidated operating decreased 0.7% to $34.3B in Q2, driven by a 1.5% drop in Consumer revenue to $26.2B, partially offset by 2.6% growth in Business revenue to $7.2B.
for H1 2026 increased $1.7B to $18.4B from benefits of lower upgrade volumes and cash tax timing.
Full-year 2026 is guided $16.0B–$16.5B with H1 spend at $8.2B, and the target was raised to up to $4.5B.
What changed
Q2 2025 Consumer wireless equipment had risen 29.6%; this quarter it fell 22.2% as the company strategically cut upgrade volumes, reversing that trend.
Business rose 2.6% versus the 0.3% Q2 2025 decline and the 1.8% Q1 2026 gain, confirming the 's return to growth flagged as a watch item.
Lead-sheathed copper cable risk was restated with no change to exposure in Q1 2026 and the 10-K; this 10-Q's Item 1A shows no material change from the 2025 annual report.
and Starry integration continues; Q1 2026 noted over 13,000-position cuts, and this quarter's severance and reflect that ongoing reduction.
Full-year 2025 was $17.0B against a $17.5B–$18.5B range; 2026 is tighter at $16.0B–$16.5B, with H1 at $8.2B on track.
What to watch
Q3 2026 Business to see if the 2.6% gain holds as Enterprise and Public Sector wireline pressure continues.
Q3 2026 Consumer wireless equipment trend after the 22.2% strategic drop to confirm upgrade-volume normalization.
Resolution of the international wireline held-for-sale process and any further loss or gain on disposal.
2026 against the $20.1B 2025 print as lands in the $16.0B–$16.5B range and buybacks reach $4.5B.
Consumer wireless equipment fell 22.2% to $4.2B due to a strategic decrease in upgrade volumes, while service revenue grew 3.3% to $19.6B, boosted by the inclusion of fiber broadband results.
Business rose 2.6% to $7.2B, with Other revenue up 9.6% to $2.6B from 's legacy wireline, offsetting slight declines in mobility service and equipment revenue.
Consolidated fell 22.9% to $3.9B, pressured by a $746M loss on classifying an international wireline business as , $397M in , and $258M in costs.
for H1 2026 increased $1.7B to $18.4B, driven by benefits from lower upgrade volumes and the timing of cash tax payments.
are expected to be $16.0B-$16.5B for full-year 2026, with H1 spend at $8.2B, while the company increased its 2026 target to up to $4.5B.
Quantitative and Qualitative Disclosures About Market Risk
Information relating to market risk is included in Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations under the caption "Market Risk."
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Information relating to market risk is included in Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations under the caption "Market Risk."
In the ordinary course of business, Verizon is involved in various litigation and regulatory proceedings at the state and federal level. As of the date of this report, we do not believe that any pending legal proceedings to which we or our subsidiaries are subject are required t…
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In the ordinary course of business, Verizon is involved in various litigation and regulatory proceedings at the state and federal level. As of the date of this report, we do not believe that any pending legal proceedings to which we or our subsidiaries are subject are required to be disclosed as material legal proceedings pursuant to this item. We apply a threshold of $1.0 million for purposes of disclosing administrative and judicial environmental proceedings involving a governmental authority, if any, pursuant to Item 103(c)(3)(iii) of Regulation S-K. For a discussion of our litigation risks, refer to Item 1A Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025.
See Note 12 to the condensed consolidated financial statements for additional information regarding legal proceedings.
There have been no material changes to our risk factors as previously disclosed in Part I, Item 1A included in our Annual Report on Form 10-K for the year ended December 31, 2025.
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There have been no material changes to our risk factors as previously disclosed in Part I, Item 1A included in our Annual Report on Form 10-K for the year ended December 31, 2025.