Here’s what key metrics tell us about Verizon (VZ) Q1 earnings

Verizon Communications (VZ) reported $34.44 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 2.9%. EPS of $1.28 for the same period compares to $1.19 a year ago.

The reported revenue represents a surprise of -1.7% over the Zacks Consensus Estimate of $35.03 billion. With the consensus EPS estimate being $1.22, the EPS surprise was +5.2%.

While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.

Here is how Verizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Operating revenues- Consumer: $26.45 billion versus the five-analyst average estimate of $26.75 billion. The reported number represents a year-over-year change of +3.3%.
• Operating revenues- Business: $7.42 billion compared to the $7.33 billion average estimate based on five analysts. The reported number represents a change of +1.8% year over year.
• Operating revenues- Consumer- Wireless equipment: $4.82 billion versus the four-analyst average estimate of $4.79 billion. The reported number represents a year-over-year change of +6.4%.
• Operating revenues- Consumer- Other: $2.45 billion versus the three-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +140.1%.
• Operating revenues- Service revenues and other: $28.76 billion versus $29.26 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.4% change.
• Operating revenues- Wireless equipment revenues: $5.68 billion compared to the $5.93 billion average estimate based on two analysts. The reported number represents a change of +5.2% year over year.
• Operating income (Loss)- Business: $884 million versus the three-analyst average estimate of $753.86 million.
• Operating income (Loss)- Consumer: $7.71 billion compared to the $7.65 billion average estimate based on three analysts.