A Verizon store stands on Jan. 14, 2025 in New York City.
Al Drago | Getty Images
Verizon raised its annual forecast for wireless subscriber additions and signed an AI infrastructure agreement worth more than $2 billion with Amazon Web Services.
For the third quarter, the telecom carrier reported 406,000 postpaid wireless subscribers, nearly double the analysts’ estimate of 209,439.
Verizon now expects to add between 1.1 million and 1.2 million postpaid phone subscribers this year, up from its previous guidance of 750,000 to 1 million.
The company also increased its full‑year adjusted earnings‑per‑share forecast to $5.04‑$5.06 from $4.99‑$5.04.
However, third‑quarter revenue came in at $34.3 billion, falling short of the $34.74 billion consensus estimate.
Revenue pressure stemmed from lower device‑upgrade volumes as customers held onto their phones longer after Verizon eliminated device subsidies.
Under CEO Dan Schulman’s ongoing restructuring, Verizon launched its Simplicity plan in June, offering transparent pricing and unlimited data.
The pact with AWS will have Verizon provide high‑capacity fiber‑optic connectivity to Amazon’s data centers, supporting faster and more reliable data transfers for AI workloads.
In a related move, Verizon announced a more than $1 billion agreement with Google in July to link data centers via dark fiber, underscoring the emerging revenue potential of AI‑driven cloud services for telecom operators.
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