Verizon第三季度净利润53亿美元、调整后每股收益1.31美元：后付费手机净增40.6万户，全年指引连续第三季上调
美国电信运营商 Verizon Communications（NYSE、Nasdaq: VZ）10月26日在 New York 公布2026年第三季度业绩：当季总营收343亿美元、同比增长1.5%，净利润53亿美元、同比增长5.2%，调整后每股收益1.31美元、同比增长8.3%；后付费手机净增40.6万户，为五年来最强的第三季度表现，公司并连续第三个季度上调全年业绩指引。
用户增长是本季财报的核心。Verizon 第三季度后付费手机净增40.6万户、同比增幅超过820%；后付费账户净增13.7万户，为十多年来最佳季度表现。后付费手机流失率同比改善4个基点至0.94%，其中消费者业务流失率为0.87%；获客促销成本同比下降41%，留存促销成本改善30%。宽带方面，当季净增31.4万户，其中固定无线接入（FWA）净增15.9万户、光纤净增15.5万户，宽带连接总数达到1,740万户，新增光纤用户中超过半数选择1 Gbps以上速率。移动与宽带服务收入约235亿美元、同比增长2.9%，公司预计第四季度该项收入同比增长约4.0%。
盈利与现金流同步创纪录：调整后 EBITDA 同比增长8.0%至138亿美元、调整后 EBITDA 利润率由37.8%升至40.2%，均为公司历史最高；净利润率由去年同期的14.9%升至15.5%。设备收入同比下降9.0%，公司解释称用户换机周期继续拉长、升级量显著减少，且公司主动削减设备补贴支出。今年前九个月资本开支为119亿美元；同期向股东返还128亿美元、同比增长49.0%，其中股息88亿美元、股票回购40亿美元，公司预计全年回购规模最高达45亿美元。
Verizon 同时宣布与亚马逊云科技（AWS）签署一份价值超过20亿美元的协议，建立商业框架以扩展分布式计算能力，满足智能体与生成式人工智能工作负载的实时需求；公司预计年底前光纤覆盖（fiber passings）将超过3,200万户，中期目标为4,000万至5,000万户。
基于第三季度的强劲表现，Verizon 连续第三个季度上调2026年全年指引：调整后每股收益目标上调至5.04至5.06美元。首席执行官 Dan Schulman 表示：「Verizon 又交付了一个创纪录的季度。转型一年来，Verizon 在运营、财务与竞争层面都根本性地更强了。」他称公司以 Simplicity 等以客户为先的产品与扩展后的忠诚度计划取代大额补贴，赢得了忠诚、高价值的用户，同时扩大利润率、降低流失率并产生强劲且持续的现金流。总部位于 New York 的 Verizon 2025年营收为1,382亿美元。
Verizon Q3 Net Income Rises to $5.3 Billion With Adjusted EPS of $1.31: 406,000 Postpaid Phone Net Adds, Guidance Raised for Third Straight Quarter
Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported third-quarter 2026 results in New York on October 26, posting total operating revenue of $34.3 billion, up 1.5 percent year over year, net income of $5.3 billion, up 5.2 percent, and adjusted EPS of $1.31, up 8.3 percent. The carrier added 406,000 postpaid phone connections in the quarter, its strongest third-quarter performance in five years, and raised its full-year guidance for the third consecutive quarter.
Subscriber growth drove the quarter. Postpaid phone net additions of 406,000 were up more than 820 percent year over year, and Verizon added 137,000 postpaid net accounts, its best quarterly performance in over a decade. Overall postpaid phone churn improved 4 basis points year over year to 0.94 percent, with consumer postpaid phone churn at 0.87 percent; promotional acquisition costs fell 41 percent and retention costs improved 30 percent. Broadband net additions were 314,000, including 159,000 fixed wireless access and 155,000 fiber additions, taking total broadband connections to 17.4 million, with more than half of new fiber customers choosing 1-gigabit-plus speeds. Mobility and broadband service revenue was about $23.5 billion, up 2.9 percent, and the company forecast growth of approximately 4.0 percent for that measure in the fourth quarter.
Profitability and cash flow set records: adjusted EBITDA rose 8.0 percent to $13.8 billion and the adjusted EBITDA margin expanded from 37.8 to 40.2 percent, both the highest the company has reported, while the net income margin rose to 15.5 percent from 14.9 percent a year earlier. Equipment revenue fell 9.0 percent as upgrade volumes dropped and Verizon cut device subsidy spending. Capital expenditures were $11.9 billion in the first nine months, and the company returned $12.8 billion to shareholders in that period, up 49.0 percent, including $8.8 billion in dividends and $4.0 billion in share repurchases; it expects full-year repurchases of up to $4.5 billion.
Verizon also signed an agreement valued at more than $2 billion with Amazon Web Services (AWS) to scale distributed compute for agentic and generative AI workloads, and expects total fiber passings to exceed 32 million by year-end, on track toward a medium-term target of 40 to 50 million.
On the strength of the quarter, Verizon raised its full-year 2026 guidance for the third consecutive quarter, putting adjusted EPS at $5.04 to $5.06. "Verizon delivered another record-breaking quarter. One year into our transformation, Verizon is fundamentally stronger — operationally, financially, and competitively," CEO Dan Schulman said, adding that customer-first offerings and an expanded loyalty program, rather than heavy subsidies, are winning loyal, high-value customers while expanding margins, reducing churn and generating strong sustained cash flow. Headquartered in New York City, Verizon generated revenues of $138.2 billion in 2025.
来源：GSM·美国（原文链接）
图片来源：图：位于 New York Manhattan 金融区的 375 Pearl Street，该楼曾为 Verizon 大楼、现为数据中心（资料图）。照片：Kidfly182，CC BY 4.0，经 Wikimedia Commons。Photo: 375 Pearl Street in Manhattan's Financial District, New York, the former Verizon Building and now a data center (file photo). Photo: Kidfly182, CC BY 4.0, via Wikimedia Commons.
