Filing Flows › Verizon Communications (VZ) › Q2 2026 › vs Q2 2025
Verizon Communications (VZ) Q2 2026 vs Q2 2025 (year over year)
Verizon Communications's revenue fell $251M (-0.7%) from $34.5B in Q2 2025 to $34.3B in Q2 2026. The biggest changes: Wireless equipment −$1.2B (-20%); Service revenues and other +$980M (+3%). Operating margin 21.0% against 23.7% (-2.7 pts).
Verizon Communications, Q2 2026: revenue $34.3B (-0.7% year over year), operating margin 21.0%, net earnings $3.8B, operating cash flow $10.4B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 21.0% | 23.7% | -2.7 pts |
| Net margin | 11.2% | 14.5% | -3.3 pts |
| Free cash flow margin | 18.8% | 15.0% | +3.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Service revenues and other | $29.2B | $28.2B | $980M | +3% |
| Wireless equipment | $5.0B | $6.3B | −$1.2B | -20% |
| Revenue | $34.3B | $34.5B | −$251M | -0.7% |
| Operating profit | $7.2B | $8.2B | −$993M | -12% |
| Costs & expenses | $27.1B | $26.3B | $742M | +3% |
| Pre-tax earnings | $5.3B | $6.6B | −$1.3B | -20% |
| Other expense, net | $1.9B | $1.6B | $342M | +22% |
| SG&A | $9.0B | $7.8B | $1.2B | +15% |
| Other operating costs | $18.1B | $18.5B | −$428M | -2% |
| Net earnings | $3.8B | $5.0B | −$1.2B | -23% |
| Minority interests | $114M | $118M | −$4.0M | -3% |
| Income tax | $1.3B | $1.5B | −$163M | -11% |
| Depreciation & amortization | $5.0B | $4.6B | $373M | +8% |
| Working capital & other | $1.6B | −$663M | $2.3B | — |
| Operating cash flow | $10.4B | $9.0B | $1.5B | +16% |
| Free Cash Flow (company-reported) | $6.4B | $5.2B | $1.3B | +24% |
| Capital expenditures (including capitalized software) | $4.0B | $3.8B | $201M | +5% |
Questions
How much did Verizon Communications's revenue grow year over year in Q2 2026?
Verizon Communications's revenue fell $251M (-0.7%) from $34.5B in Q2 2025 to $34.3B in Q2 2026.
What drove Verizon Communications's revenue change in Q2 2026?
Wireless equipment −$1.2B (-20%); Service revenues and other +$980M (+3%).