Pre-earnings brief
Reports
Mon, Oct 26, 2026
Est. EPS
—
Est. revenue
—
Implied move
±5.8%
EPS beat rate
100%
Verizon Communications Inc. is a major player in the communication services sector, providing wireless and wireline telecommunications services. As a leading integrated telecommunications provider, Verizon is crucial in connecting consumers and businesses, especially as demand for reliable connectivity continues to grow in a digital-first world.
Last quarter
In Q2 2026, Verizon reported an earnings per share (EPS) of $1.30, surpassing expectations by 2.44%. The stock reacted positively, gaining 5.84% the following day.
Management promises and guidance
EPS beat streak
8Q
EPS beat rate
100%
Avg EPS surprise
+2.49%
Avg 1-day reaction
+2.75%
Investors are looking for Verizon to maintain its strong performance, particularly in subscriber growth and profitability metrics. The market is keen to see if the company can continue to beat EPS estimates.
Bull case
If Verizon can show robust subscriber growth and improved ARPU, it could signal strong demand for its services, leading to a positive stock reaction.
Bear case
Conversely, if subscriber growth stagnates or ARPU declines, it could raise concerns about competitive pressures and profitability, negatively impacting the stock.
The print will turn on these.
Q1
What is the current subscriber growth rate compared to last quarter?
Subscriber growth is a key indicator of Verizon's market performance and customer retention, which will heavily influence investor sentiment.
Q2
How has Average Revenue Per User (ARPU) changed this quarter?
Changes in ARPU can signal shifts in customer spending and the effectiveness of Verizon's pricing strategies, impacting overall profitability.
—
Est. EPS
—
Est. Rev
—
Impl. Move
±9.0%
Why consensus could be wrong
The Street may be underestimating the impact of Verizon's 5G expansion on subscriber growth, which could lead to stronger-than-expected performance this quarter.
Supporting evidence
Verizon's recent investments in 5G infrastructure could drive higher customer acquisition rates.
Options pricing suggests a larger potential move than historical averages, indicating heightened expectations.
Past performance shows a consistent ability to beat EPS estimates, suggesting that the company may outperform again.
Key risk
If subscriber growth exceeds 2%, it could challenge the current cautious consensus.
Pre-commit to what would confirm each case.
This quarter, the focus is on subscriber metrics and revenue per user, which are critical for assessing Verizon's competitive position and financial health.
Bull confirmed if
Subscriber growth exceeding 2% quarter-over-quarter would confirm the bull case.
Bear confirmed if
A decline in ARPU below $50 would confirm the bear case.
What the market is pricing for the move.
Implied Move
±5.76%
Historical Avg
±4.0%
The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.
Options are pricing ±5.8% while VZ has averaged ±4.0% over the last 8 prints — setup is pricing rich.
ATM IV
0.3%
30d HV
19.3%
Cross-company pattern from 30 similar setups.
Prior-quarter beat + options rich in Communication Services
Fade rate: 11 of 30 (37%)
This setup has occurred 30 times across Communication Services in the last 2 years. 19 of 30 (63%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.7%, with a raw directional average of -1.5% (modestly negative historical bias).
Smart-money positioning from the most recent 13F filings.
Institutional
71.16%
of float
Insider
0.05%
of float
Holders
3,929
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
398,216,158 sh · $18.2B
9.58%
8.2%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Verizon beats expectations, history suggests the stock could rise by around 2.75%, confirming strong demand and operational efficiency.
In line / cautious
An in-line report with cautious commentary might lead to a muted reaction, as investors weigh the implications of steady performance against competitive pressures.
Miss
If the company misses estimates, history suggests a potential decline of around 4.01%, raising concerns about growth and profitability.
House and Senate STOCK Act disclosures over the trailing 6 months.
Trades
3
1 buy·2 sells
Members
2
House only
Est. Notional
$3,003.00–$45,000.00
disclosed dollar ranges
Most Active Members
2 trades
The lines on the call that would change the story.
Vanguard Capital Management LLC
258,996,106 sh · $11.9B
6.23%
-0.5%
State Street Corporation
209,676,274 sh · $9.6B
5.05%
-2.4%
Charles Schwab Investment Management, Inc.
127,774,822 sh · $5.8B
3.08%
13.1%
Geode Capital Management, LLC
106,820,018 sh · $4.9B
2.57%
0.6%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.
Mixed
1 trade
Net selling
Recent Transactions
Traded Jul 17, 2026 · disclosed Sep 4, 2026
$1,001.00–$15,000.00
Traded Apr 23, 2026 · disclosed Apr 30, 2026
$1,001.00–$15,000.00
Traded Apr 14, 2026 · disclosed May 8, 2026
$1,001.00–$15,000.00
Filed 30–45+ days after the trade. Treat as positional context, not a leading indicator. Amounts are SEC-mandated dollar ranges, not exact values.