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Achieved positive postpaid phone net adds in Q1 for the first time in 13 years, signaling a successful pivot from aggressive promotions to durable, recurring service revenue.

Attributed the turnaround to a 'customer-centric' approach that prioritizes long-term lifetime value over short-term revenue maximization, resulting in record-high customer satisfaction scores.

Improved consumer postpaid phone churn to below 85 basis points by March, reversing a multi-year upward trend by removing friction from customer interactions and avoiding 'blunt' price increases.

Reduced cost of acquisition and retention by approximately 35% relative to the end of Q4. through micro-segmentation and more disciplined, fiscally responsible offers.

Integrated Frontier Communications to accelerate broadband growth and drive converged mobility-plus-fiber offerings, which currently show 30% lower churn than standalone services.

Launched a company-wide transformation program across 10 workstreams, aiming to become an 'AI-native' company while removing legacy structural costs.

Raised 2026 adjusted EPS growth guidance to 5% to 6% from the previous range of 4% to 5%. and increased postpaid phone net add expectations to the upper half of the 750,000 to 1,000,000 range.

Anticipates Q1 will be the low point for mobility and broadband service revenue growth, with performance expected to accelerate toward the 2% to 3% annual target.

Targets $5 billion in operating expense savings for 2026, supported by AI-driven productivity gains and the decommissioning of legacy network elements.

Expects to reach more than 32 million fiber passings by year-end 2026, with a medium-term goal of 40 million to 50 million passings.

Assumes a moderating competitive environment where industry players shift focus toward smarter, segmented retention rather than universal free handset promotions.

A January network outage created a one-time 80 basis point headwind on wireless service revenues due to proactive customer credits.

The Frontier acquisition increased the net unsecured debt to adjusted EBITDA ratio to 2.6x, though management has already repaid approximately half of the acquired debt.

Restructuring efforts resulted in $1.1 billion in severance payments during the quarter, reflecting a leaner workforce of 13,000 fewer employees.

Management flagged ongoing 'promotional amortization' as a temporary revenue headwind that is expected to subside as lower-cost acquisition strategies take hold.

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Management is shifting focus to account-level growth and ARPA (Average Revenue Per Account) rather than just individual lines.

New accounts are showing higher quality with more lines per account and a 150 basis point increase in 'new to Verizon' gross adds.

Verizon aims to be an 'AI-native' company, with its AI tech stack expected to be substantially complete by July and fully finished by November., utilizing a four-layer tech stack to automate 85% of network issue resolutions.

Management expects a 40% increase in software delivery speed and a 70% reduction in vendor support costs through AI coding and agent deployment.

While maintaining the target of 8 million to 9 million FWA subscribers by 2028, Verizon will prioritize fiber where coverage exists due to superior 'owner's economics.'

The company is exploring multibillion-dollar revenue opportunities by providing fiber and 5G infrastructure to hyperscalers for AI training and inference.

Management believes the reduction in handset subsidies is a structural change, moving away from the 'free handset for everything' model toward solving specific customer pain points.

Despite lower subsidies, Verizon successfully absorbed a 6% year-over-year increase in upgrade volumes by being more surgical with retention offers.

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