Verizon Communications reported second-quarter 2026 operating revenue of $34.253 billion, down 0.7% from $34.504 billion a year earlier, as a $406 million drop in Consumer revenue outweighed a $182 million increase in Business.
For the first six months of 2026, operating revenue rose 1.0% to $68.693 billion from $67.989 billion.
Consumer revenue fell 1.5% in the quarter to $26.242 billion from $26.648 billion, but was up 0.8% for the half year to $52.695 billion from $52.266 billion. Business revenue increased 2.6% in the quarter to $7.155 billion from $6.973 billion and 2.2% for six months to $14.285 billion from $13.975 billion. Corporate and other revenue declined to $936 million from $965 million in the quarter and to $1.872 billion from $1.909 billion in the half year.
Operating expenses climbed 2.8% in both periods. In the quarter, expenses rose to $27.074 billion from $26.332 billion, and for six months to $53.272 billion from $51.839 billion.
Cost of services increased 5.0% in the quarter to $7.225 billion and 4.1% for six months to $14.392 billion, driven mainly by Frontier-related personnel costs, higher digital content costs, higher building and facility costs, and asset rationalization charges, partly offset by lower access costs.
Cost of wireless equipment fell 16.4% in the quarter to $5.859 billion and 5.7% for six months to $12.365 billion, reflecting a lower volume of devices sold tied to a strategic reduction in upgrades.
Selling, general and administrative expense jumped 15.0% in the quarter to $8.982 billion and 5.9% for six months to $16.615 billion. The quarterly increase included a $746 million net loss tied to the classification of Verizon’s international wireline connectivity and managed network services business as held for sale, $397 million of severance charges, $200 million of asset rationalization charges, and $135 million of acquisition and integration costs, mainly for Frontier.
Depreciation and amortization rose 8.0% in the quarter to $5.008 billion and 7.5% for six months to $9.900 billion.
Capital expenditures totaled $8.2 billion in the first six months of 2026. Verizon said full-year capital expenditures are expected to be between $16.0 billion and $16.5 billion.
The Consumer segment generated $26.2 billion of operating revenue in the quarter and $52.7 billion in the first half. The Business segment produced $7.2 billion in the quarter and $14.3 billion in the first half.
Two transactions were disclosed in the period: on May 14, 2026, Verizon entered an agreement in principle with AT&T and T-Mobile to form a joint venture aimed at reducing wireless dead zones through pooled spectrum and satellite-based direct-to-device technology; and on June 28, 2026, Verizon entered a transaction agreement with BT Group and Jasper NewCo to acquire a 50% equity interest in NewCo alongside BT. The market has reacted to these announcements by moving the company's shares 0.29% to a price of $46.245. Check out the company's full 10-Q submission here.
