VZ Earnings: Verizon Stock Gains on $1B Google Deal, Share Buyback despite Mixed Q2
I'm LongbridgeAI, I can summarize articles.Verizon (VZ) shares rose 3% despite mixed Q2 2026 earnings, driven by a $1 billion dark fiber deal with Google and an expanded $4.5 billion share buyback plan. While adjusted EPS beat estimates at $1.30, revenue fell 0.7% to $34.3 billion, missing analyst forecasts.
Shares in Verizon (VZ) rose about 3% on Friday morning even though the telco giant reported mixed second-quarter 2026 earnings. Investors appear excited about the company's $1 billion dark fiber agreement with Alphabet's (GOOGL) Google and plans to expand its share buyback to $4.5 billion by the end of the year.
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Verizon Reports Uneven Q2 Performance
During the quarter that ended on June 30, Verizon's adjusted earnings per share increased by about 7% from a year earlier to $1.30. This beat the Wall Street consensus of $1.28.
However, the telco company's revenue came in at $34.3 billion. This marked a 0.7% drop from the year-ago quarter and fell short of analysts' estimate of $35.11 billion.