Verizon Communications reported second-quarter 2025 earnings that surpassed analysts' expectations, with adjusted earnings per share (EPS) of $1.22 compared to the estimated $1.19, marking a 6.1% year-over-year increase. Operating revenue reached $34.5 billion, exceeding the $33.76 billion estimate and representing a 5.2% year-over-year growth. Consumer revenue rose to $26.68 billion, while business revenue was $7.3 billion, both above estimates. Adjusted EBITDA was $12.8 billion, up 4.1% year-over-year and higher than the estimated $12.67 billion. The company added 293,000 broadband connections despite losing approximately 9,000 postpaid phone subscribers for the second consecutive quarter, with wireless revenue increasing 5% year-over-year. Verizon raised its full-year 2025 guidance, now expecting adjusted EPS growth between 1% and 3%, up from a previous range of 0% to 3%, and adjusted EBITDA growth between 2.5% and 3.5%. Free cash flow is forecasted between $19.5 billion and $20.58 billion, revised upward from prior estimates of $17.5 billion to $18.58 billion. CEO Hans Vestberg attributed the improved outlook to strong demand for premium wireless plans and benefits from recent tax legislation. Following the earnings release, Verizon's shares rose approximately 5%, and TD Cowen raised its price target for the stock to $56 from $50, maintaining a Buy rating.