How has Verizon Performed Under New CEO Dan Schulman?

Marking Dan Schulman’s first quarter as CEO of Verizon, the company has announced its Q3 2025 results on 29 October.

It highlights the success of its wireless service, a mobile network that provides voice, text and data including access to high-speed 5G networks, with revenue in the third-quarter of 2025 at US$21bn - up 2.1% year-over-year.

According to Verizon, more than 18% of the company’s consumer post-paid phone customers also subscribed to at least one other of its services, provided as part of a converged offer.

In addition to these highlights, the tech company also raised the dividend for the 19th consecutive year, signalling continued confidence in its financial health and future earnings. 

Discussing how these results align with his plans to take Verizon forward as new CEO, Dan says: “We are going to take bold and fiscally responsible action to redefine Verizon’s trajectory at this critical inflection point for our company.

“We will rapidly shift to a customer-first culture, one that thrives on delighting our customers. 

“These will not be incremental changes. We will aggressively transform our culture, our cost structure and the financial profile of Verizon in order to put out customers first, compete effectively and deliver sustainable returns for our shareholders.”

Competing amongst the big three telecom operators

Alongside AT&T and T-Mobile, Verizon is rivalling for new subscribers to its networks.

However, the company’s latest report shows a drop of 7,000 consumer mobile phone customers in the three months ending 30 September. This figure that compares with a gain of 81,000 post-paid phone net additions in the third quarter of 2024.

In contrast, Bloomberg reports that AT&T gained 405,000 new subscribers in its third quarter and T-Mobile signed up one million more.

AT&T’s CEO John Stankey said in a statement: “We continue to add highly profitable customers that are choosing AT&T for all their connectivity needs.”

Wall Street has expressed concerns about the price war, with the all three introducing promotions and incentives to encourage customers to use their network.

Verizon has boosted revenue through increased rates over the past few years, according to Bloomberg.

However this customer pool is appearing to be decreasing. Alongside the wireless service revenue reported at US$21bn, total Verizon Consumer revenue - the service for individual and family use - is reported at US$26.1bn, an increase of 2.9% year-over-year.

Total Verizon Business revenue has been a decrease of 2.8% year-on-year.

New leadership at Verizon

Dan joined Verizon in October after almost a decade leading PayPal. As new CEO, he is tasked with steering the telecom giant towards increased growth in the wireless market.

Discussing his appointment at the time, Verizon’s Chair of the Board Mark Bertolini said: “The Board is thrilled to have Dan as Verizon’s next CEO, and to embark on a new chapter of growth and sector leadership.

“Dan is a seasoned and decisive leader with a unique set of experiences, and a proven record of transformative leadership and operational excellence.”

Verizon said he brings his expertise in telecommunications, technology and financial sectors to lead the company’s strategies.

Full-year guidance 

The telecoms company says it remains confident in its previously updated guidance for the full year, including:

• Total wireless service revenue growth of 2.0% to 2.8%
• Adjusted EPS growth of 1% to 3%
• Adjusted EBITDA growth of 2.5% to 3.5%
• Cash flow of operation of US$37bn to US$39bn
• Free cash flow of US$19.5bn to US$20.5bn

It also remains on track to meet its investment goals for 2025 and expects capital expenditures to be within or below the previously guided range of US$17.5bn to US$18.5bn.