Verizon multiplies subscribers under the leadership of Dan Schulman: growth in all segments

Since taking office in October, Dan Schulman has transformed Verizon Communications with results that defy market expectations. Subscriber growth in the most recent quarter solidifies the new CEO’s commitment to a more agile and competitive business model. In a context where the company had lost ground to rivals like T-Mobile US, Schulman’s strategy demonstrates that leadership change marks a decisive turning point for the country’s largest mobile operator.

The new CEO drives record postpaid subscriber gains

The addition of 616,000 net postpaid phone subscribers in the fourth quarter far exceeded the projections of FactSet analysts, who anticipated around 417,000. This result is no coincidence: it directly reflects the austerity measures and strategic focus Schulman implemented since his arrival. The company reported $36.4 billion in revenue for the quarter, up 2% year-over-year, slightly surpassing market expectations.

At the end of the period, Verizon had consolidated 146.9 million retail wireless connections, reflecting the strength of its subscriber base. Wireless services, the company’s main revenue source, generated $21 billion during the quarter. Earnings per share reached 55 cents, or $1.09 excluding certain non-recurring items, although costs from mass layoffs initiated in November partially impacted the results.

Accelerated expansion of broadband and wireless services

Positive subscriber performance extends beyond mobile phones. Verizon added 372,000 net fixed broadband subscribers in the quarter, reinforcing its integrated service strategy. The completion of the $9.6 billion acquisition of Frontier Communications was decisive: it increased the total number of fixed broadband, wireless, and fiber connections to 16.3 million, significantly expanding the company’s fiber optic network and its capacity to offer combined residential internet and mobile services.

During the same period, Verizon added 319,000 net wireless broadband subscribers, a growing segment that enables internet access at homes via cell towers, eliminating reliance on traditional cable infrastructure. This diversification of revenue sources strengthens the resilience of the operator’s business model amid mobile market volatility.

Verizon projects a year of strong subscriber growth

Looking ahead, Schulman has communicated an ambitious outlook. The company expects to add between 750,000 and one million net postpaid phone subscribers in 2026, signaling confidence in sustainable growth. Revenue from wireless services will remain relatively stable, while total mobility and broadband revenue are expected to increase between 2% and 3%.

The company plans to invest between $16 billion and $16.5 billion in capital expenditures during 2026, a reduction from the approximately $17 billion planned for 2025. This adjustment reflects Schulman’s commitment to “financially disciplined growth,” a phrase that summarizes his strategic approach: maximize subscriber gains without compromising the operator’s financial health.

The competitive landscape remains intense. During the quarter, both Verizon and T-Mobile US launched aggressive offers to attract competitors’ subscribers. However, after experiencing declines in its main postpaid subscriber base for three consecutive quarters, Verizon has managed to reverse this trend, solidifying its market position under new leadership.