Verizon Adds Record Subscribers as New CEO Signals Turnaround

Impressive Subscriber Growth Signals Recovery

Verizon delivered a stunning fourth-quarter performance by adding 616,000 postpaid phone connections, far exceeding analyst expectations of around 417,000 . These results mark a major turning point for the New York-based carrier, representing its highest quarterly growth in mobility and broadband since 2019 . The company's fourth-quarter revenue rose 2% year over year to $36.4 billion, slightly beating the expectations of analysts .

The remarkable subscriber surge came after Verizon shed core consumer postpaid phone connections for each of the three quarters following last year's holiday season . The holiday season saw Verizon pivot to a much more aggressive marketing strategy to steal customers from rivals like T-Mobile and AT&T, including offers for four lines of unlimited service for $100 a month, paired with free high-end devices like the iPhone 17 Pro .

Schulman said Verizon would no longer raise prices without increasing the value it offered, as that prior approach was driving customers away . "Verizon will no longer be a hunting ground for our competitors," Schulman declared .

New CEO's Bold Transformation Strategy

The strong numbers provide the first full look at the impact of new Chief Executive Officer Dan Schulman, who took the helm in October . Schulman's background as former PayPal CEO, where he tripled revenue from $8 billion to $30 billion, brought a fintech lens to telecom . Since taking over as CEO in October, Schulman has been working to make Verizon leaner and last announced more than 13,000 job cuts to shrink costs and restructure operations .

Schulman, who previously ran PayPal and was Verizon's lead independent director before taking over as CEO, said Friday that the company is "examining every dollar" of operating and capital expenditures, continuing to streamline operations and focusing on fiscally responsible growth. Verizon expects to realize $5 billion in operating expenditure savings this year, Schulman said during the call .

Aggressive Growth Targets and Financial Outlook

The company issued a bullish forecast, saying it expects to add between 750,000 and one million net postpaid phone connections this year . The company sees adjusted profit for 2026 between $4.90 and $4.95 per share compared with estimates of $4.76, according to data compiled by LSEG . Annual free cash flow is expected to be at least $21.5 billion, above expectations for $20.96 billion .

This month the company closed its $9.6 billion acquisition of Frontier Communications, which brought its total fixed-wireless and fiber broadband connections up to 16.3 million . The closing of the Frontier acquisition on January 20 is expected to further accelerate this momentum by expanding Verizon's fiber footprint to over 30 million homes and businesses .

Market Position and Future Prospects

"Our 2026 guidance reflects the beginning of our turnaround, and is a step function change from our past five-year historical average," Schulman noted . Fiber infrastructure has become a key driver of wireless subscriber growth as carriers compete on bundled offerings that combine mobile service with high-speed home internet .

The transformation comes at a critical time for the telecom industry, where carriers are battling intensely for market share. Schulman's strategy of combining aggressive cost-cutting with strategic investments in fiber infrastructure appears designed to position Verizon as a more formidable competitor against T-Mobile and AT&T. With the Frontier acquisition expanding its reach and the promise of continued subscriber growth, Verizon seems poised to reclaim its position as a growth-oriented telecom leader rather than merely a dividend-focused utility stock.