Verizon Communications (NYSE: VZ) reported fourth-quarter earnings and revenue that exceeded analyst expectations and issued a stronger-than-expected outlook for 2026, lifting shares more than 9% intraday.

The company posted adjusted earnings per share of $1.09, beating consensus estimates of $1.06. Revenue reached $36.4 billion, surpassing expectations of $36.1 billion. Verizon also recorded its highest quarterly total mobility and broadband volumes since 2019, including 616,000 postpaid phone net additions.

Wireless service revenue rose 1.1% year over year to $21.0 billion, while wireless equipment revenue climbed 9.1% to $8.2 billion. Broadband subscriber additions totaled 372,000, including 319,000 fixed wireless access customers and 67,000 Fios internet additions.

For 2026, Verizon projected adjusted earnings per share of $4.90 to $4.95, well above analyst consensus of $4.76. The company also forecast total retail postpaid phone net additions of 750,000 to 1.0 million and total mobility and broadband service revenue growth of 2.0% to 3.0%.