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Verizon Communications (VZ) Q2 FY2026 earnings: revenue $34.3 billion, down 0.7% on the year

Verizon Communications Inc. (VZ) reported revenue of $34.3 billion for Q2 FY2026, the quarter ended 30 June 2026, down 0.7% on the same quarter a year earlier. Net income was $3.8 billion, down 23.3% on the year, and diluted earnings per share $0.92. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue
$34.3 billion
-0.7% on the year · -0.5% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
21.0%
23.7% a year earlier
Q3 FY2024Q2 FY2026
Net income
$3.8 billion
-23.3% on the year · -24.0% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$0.92
-22.0% on the year · -23.3% on the quarter
Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 raised, 1 narrowed, 1 new, 3 kept.

  • Adjusted EPS rose 6.6 percent: Adjusted EPS, excluding special items, was $1.30 against $1.22. Reported EPS was $0.92, down 22.0 percent from $1.18.
  • Operating revenue fell 0.7 percent: Total operating revenue was $34.3 billion. Service revenue rose 3.5 percent to $29.2 billion, while wireless equipment revenue fell 19.7 percent to $5.0 billion.
  • Adjusted EBITDA reached $13.7 billion: Consolidated adjusted EBITDA rose 7.2 percent year-over-year. The company says this is the highest adjusted EBITDA it has reported.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ2 FY2026Q1 FY2026Q2 FY2025On the quarterOn the yearLast 8 quarters
Revenue34,25334,44034,504-0.5%-0.7%
Cost of revenue13,08413,67313,885-4.3%-5.8%
Gross profit21,16920,76720,619+1.9%+2.7%
Gross margin61.8%60.3%59.8%
Selling, general and administrative8,9827,6337,812+17.7%+15.0%
Operating income7,1798,2428,172-12.9%-12.2%
Operating margin21.0%23.9%23.7%
Interest expense1,9851,9401,639+2.3%+21.1%
Pre-tax income5,2746,7846,609-22.3%-20.2%
Income tax1,3251,6381,488-19.1%-11.0%
Effective tax rate25.1%24.1%22.5%
Net income3,8355,0455,003-24.0%-23.3%
Net margin11.2%14.6%14.5%
Diluted EPS$0.92$1.20$1.18-23.3%-22.0%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ2 FY2026Q1 FY2026Q2 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow10,4357,9848,975+30.7%+16.3%
Cash from investing-4,927-13,573-3,438
Cash from financing-11,836-5,278-4,378
Depreciation and amortisation5,0084,8924,635+2.4%+8.0%
Buybacks1,0002,5000.0-60.0%
Dividends paid2,9542,9102,856+1.5%+3.4%
Dividend per share$0.71$0.71$0.680.0%+4.4%
Diluted shares, weighted4,171m4,210m4,228m-0.9%-1.3%
Shares outstanding at period end4,155m4,176m4,216m-0.5%-1.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ2 FY2026Q1 FY2026Q2 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity105,196104,622104,361+0.5%+0.8%
Debt165,231172,460145,996-4.2%+13.2%
Operating lease liabilities18,39218,69219,164-1.6%-4.0%
Other liabilities121,367122,108113,764-0.6%+6.7%
Total liabilities and equity410,186417,882383,285-1.8%+7.0%
Fixed assets125,497125,972108,069-0.4%+16.1%
Goodwill30,66430,62822,841+0.1%+34.2%
Intangible assets12,31712,79910,635-3.8%+15.8%
Cash and equivalents1,7528,3663,435-79.1%-49.0%
Inventory2,0362,3202,137-12.2%-4.7%
Other assets237,920237,797236,168+0.1%+0.7%
Total assets410,186417,882383,285-1.8%+7.0%

Questions

What was Verizon Communications' revenue in Q2 FY2026?

Verizon Communications (VZ) reported revenue of $34.3 billion for Q2 FY2026, the quarter ended 30 June 2026, down 0.7% on the same quarter a year earlier.

How much did Verizon Communications earn in Q2 FY2026?

Net income for Q2 FY2026 was $3.8 billion, down 23.3% on the year, and diluted earnings per share $0.92.

When did Verizon Communications report Q2 FY2026 results?

Verizon Communications filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 31 July 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue34,06733,55433,78934,24135,25132,91232,59633,33635,13032,98132,79633,33035,68133,48534,50433,82136,38134,44034,25334,313
Cost of revenue14,99614,35014,42014,60115,76213,50412,76413,43715,18212,87212,47113,24015,51413,05613,88513,34616,47813,67313,08413,088
Gross profit19,07119,20419,36919,64019,48919,40819,83219,89919,94820,10920,32520,09020,16720,42920,61920,47519,90320,76721,16921,225
Gross margin56%57%57%57%55%59%61%60%57%61%62%60%57%61%60%61%55%60%62%62%
SG&A7,4127,1727,4967,4228,0467,5068,2537,9958,9918,1438,0249,7068,2407,8747,8127,75210,3807,6338,9827,480
Operating income7,6087,7967,5527,8947,2257,5847,2207,4736007,5217,8185,9267,4217,9788,1728,1055,0048,2427,1798,650
Operating margin22%23%22%23%20%23%22%22%2%23%24%18%21%24%24%24%14%24%21%25%
Interest expense7397867859371,1051,2071,2851,4331,5991,6351,6981,6721,6441,6321,6391,6641,7591,9401,9851,950
Pre-tax income6,1446,0836,8576,5208,8116,5006,1126,192-1,8176,0756,0344,3026,5686,4736,6096,5273,0636,7845,2746,817
Tax rate23%23%22%23%24%23%22%21%n/a22%22%21%22%23%23%23%20%24%25%22%
Net income4,6134,5805,1994,9006,5774,9094,6484,762-2,7054,6024,5933,3065,0054,8795,0034,9502,3425,0453,8355,198
Net margin14%14%15%14%19%15%14%14%-8%14%14%10%14%15%14%15%6%15%11%15%
Diluted EPS$1.10$1.09$1.24$1.17$1.56$1.17$1.10$1.13-$0.64$1.09$1.09$0.78$1.18$1.15$1.18$1.17$0.55$1.20$0.92$1.25
Operating cash flow8,3776,82110,84410,5348,9428,2899,73110,7788,6777,0849,4859,91110,4327,7828,97511,2669,1147,98410,43511,517
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/a0.00.00.0n/a2,5001,000500
Dividends paid2,6482,6542,7242,6882,7392,7442,7432,7442,7942,7962,8022,8012,8502,8562,8562,8572,9122,9102,9542,940
Shares outstanding4,198m4,200m4,200m4,200m4,200m4,204m4,204m4,204m4,204m4,209m4,210m4,210m4,210m4,216m4,216m4,216m4,218m4,176m4,155m4,145m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 31 July 2026: the filing.