Filing Flows › Verizon Communications (VZ) › Q3 2026 › vs Q3 2025
Verizon Communications (VZ) Q3 2026 vs Q3 2025 (year over year)
Verizon Communications's revenue rose $492M (+1%) from $33.8B in Q3 2025 to $34.3B in Q3 2026. The biggest changes: Service revenues and other +$995M (+4%); Wireless equipment −$503M (-9%). Operating margin 25.2% against 24.0% (+1.2 pts).
Verizon Communications, Q3 2026: revenue $34.3B (+2% year over year), operating margin 25.2%, net earnings $5.2B, operating cash flow $11.5B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 25.2% | 24.0% | +1.2 pts |
| Net margin | 15.1% | 14.6% | +0.5 pts |
| Free cash flow margin | 22.7% | 20.6% | +2.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Service revenues and other | $29.2B | $28.2B | $995M | +4% |
| Wireless equipment | $5.1B | $5.6B | −$503M | -9% |
| Revenue | $34.3B | $33.8B | $492M | +1% |
| Operating profit | $8.7B | $8.1B | $545M | +7% |
| Costs & expenses | $25.7B | $25.7B | −$53.0M | -0.2% |
| Pre-tax earnings | $6.8B | $6.5B | $290M | +4% |
| Other expense, net | $1.8B | $1.6B | $255M | +16% |
| SG&A | $7.5B | $7.8B | −$272M | -4% |
| Other operating costs | $18.2B | $18.0B | $219M | +1% |
| Net earnings | $5.2B | $5.0B | $248M | +5% |
| Minority interests | $122M | $106M | $16.0M | +15% |
| Income tax | $1.5B | $1.5B | $26.0M | +2% |
| Depreciation & amortization | $5.1B | $4.6B | $477M | +10% |
| Working capital & other | $1.2B | $1.7B | −$474M | -28% |
| Operating cash flow | $11.5B | $11.3B | $251M | +2% |
| Free Cash Flow (company-reported) | $7.8B | $7.0B | $845M | +12% |
| Capital expenditures (including capitalized software) | $3.7B | $4.3B | −$594M | -14% |
Questions
How much did Verizon Communications's revenue grow year over year in Q3 2026?
Verizon Communications's revenue rose $492M (+1%) from $33.8B in Q3 2025 to $34.3B in Q3 2026.
What drove Verizon Communications's revenue change in Q3 2026?
Service revenues and other +$995M (+4%); Wireless equipment −$503M (-9%).