Verizon Communications Inc.

Verizon Communications Inc. is an American telecommunications company that provides wireless services, broadband internet, and wireline communications to consumers, businesses, and government entities, generating $138.2 billion in revenue in fiscal 2025. Through its two operating segments — Verizon Consumer Group and Verizon Business Group — the company serves approximately 147 million wireless retail connections and more than 16 million broadband connections across the United States. It is one of the three national wireless carriers that together control roughly 95% of the U.S. postpaid phone market.

This is a story about an incumbent telecommunications franchise attempting to reorient itself around subscriber growth after years of relying on price increases to generate revenue gains. Under new chief executive Dan Schulman, who took the helm in October 2025, Verizon has declared an end to the strategy of raising prices on a static customer base and has committed to competing on value, service, and convergence — bundling mobility with broadband to reduce churn and increase lifetime customer value. The company closed its $22 billion acquisition of Frontier Communications in January 2026, adding roughly 10 million fiber passings and creating what management describes as the largest integrated wireline-and-wireless platform in the country. The file turns on a single question: whether the combination of management change, cost discipline, and fiber-led convergence can produce sustained volume growth without a margin-compromising promotional war, all while servicing $200 billion in consolidated debt and returning $55 billion to shareholders through 2028.