Verizon Surprise Subscriber Growth Sends Stock Higher Under New CEO
Verizon Communications delivered a jolt to Wall Street on Monday, April 27, as the telecom giant reported stronger-than-expected first-quarter 2026 results, pushing its stock higher and reaffirming confidence in new CEO Dan Schulman’s aggressive turnaround strategy.
The company posted total operating revenue of $34.4 billion, a 2.9 percent increase year-over-year, while consolidated net income reached $5.1 billion a 3.3 percent rise from the same period last year. Adjusted earnings per share climbed to $1.28, a 7.6 percent increase and the strongest quarterly growth rate since 2021.
The Verizon surprise subscriber growth caught analysts off guard and reinforced the view that Schulman’s pivot is working.
Schulman’s Strategy Takes Hold
Verizon recorded 55,000 net new mobile phone customers in the quarter the first positive phone subscriber additions in a first quarter since 2013 and a year-over-year improvement of 340,000. Analysts had projected losses of approximately 89,000 customers. That stark contrast between expectation and reality drove the immediate market reaction.
Following the strong Q1 results, Verizon raised its full-year adjusted EPS guidance to growth of 5.0 to 6.0 percent and now expects total postpaid phone net additions in the upper half of its 750,000 to one million range.Schulman, who took over in October, had pledged to shift Verizon from a technology-centric model to a more customer-focused approach.
The Verizon surprise subscriber growth is early proof that the strategy resonates with consumers. Raymond James responded by raising its price target for Verizon stock to $56, citing the company’s cost-reduction efforts and operational efficiencies.
With competition from T-Mobile and AT&T intensifying, Verizon’s ability to sustain this momentum through the rest of 2026 will be the true test of Schulman’s leadership.
