Key facts: Verizon (VZ) Q3 EPS rise; $2B+ AI deals; $9B cuts

What happened

Verizon reported Q3 adjusted earnings per share of $1.31, up 8.3% from a year earlier, on revenue of $34.3 billion. It added 406,000 postpaid phone customers and raised its full-year adjusted earnings per share outlook.

Confirmed

Global impact / market context

Higher profit per share and a raised outlook signal the phone business is improving. The more than $2 billion of AI infrastructure deals and roughly $1 billion dark-fiber agreement with Google, which means unused fiber capacity, could add new revenue from 2027.

Analyst inference

Verizon says its $9 billion of operating expense and capital spending cuts are on track, which means cash available should rise. It also plans up to $4.5 billion of buybacks, which reduce shares outstanding and can lift earnings per share.

Analyst inference

What to watch

1. Verizon added 314,000 broadband subscribers: 159,000 fixed wireless and 155,000 fiber, for 17.4 million total. It targets 10–15 million fixed wireless premises and 40–50 million fiber passings, which means homes passed by its network. Confirmed
2. The planned Frontier deal is expected to deliver over $1 billion of annual cost savings by 2028. Watch whether those savings arrive on schedule, since they support the $9 billion cut program and future cash available. Proposed
3. The AI Connect revenue starts in 2027, so near-term results depend on phone and broadband growth plus cost cuts. Watch subscriber additions and whether the 3.5%–5% operating cash flow growth guidance holds. Analyst inference

Evidence

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