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Verizon posts record adjusted EBITDA in Q2 2026 as subscriber growth accelerates

7/24/2026

Wireless subscribers are staying longer and signing up faster, and the cash those customers generate has reached new highs.

Adjusted EBITDA, the earnings figure that strips out interest, taxes, and accounting charges to show what the core business actually produces, came in at $13.7 billion at Verizon Communications (VZ) in the second quarter of 2026, up 7.2 percent year over year and the highest the company has ever reported.

Free cash flow for the first half of 2026 reached $10.2 billion, a 16 percent gain from the same period in 2025. Where the subscriber growth is coming from Verizon added 184,000 postpaid phone net subscribers in Q2 2026.

Postpaid is the monthly-bill model where customers pay after use; churn, the rate at which subscribers cancel, is the number carriers watch to gauge whether that revenue is durable.

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