Verizon posts first spring subscriber gains since 2013, raises profit outlook

Verizon Communications Inc. reported its first net additions of postpaid phone subscribers in the spring quarter since 2013, signaling a turnaround in its wireless business. The carrier added 68,000 postpaid phone subscribers in the first quarter of 2025, compared with a loss of 68,000 in the same period last year. This beat analyst expectations of a loss of 21,000 subscribers, according to Bloomberg consensus. The improvement was driven by aggressive promotions, including buy-one-get-one offers on premium smartphones and discounts for customers switching from rivals. Verizon also raised its full-year adjusted earnings per share outlook to between $4.70 and $4.85, up from the previous range of $4.60 to $4.80. The company now expects postpaid phone additions to land at the top of its annual target range of 1 million to 1.5 million. Revenue for the quarter was $33.0 billion, slightly above the $32.9 billion consensus estimate. Adjusted EBITDA rose 2.4% to $12.3 billion. The results come amid intense competition in the U.S. telecom market, where carriers are battling for high-value postpaid customers. Verizon's stock rose 3.2% in premarket trading following the announcement.