Verizon’s smug stance crumbles after brutal Q3, and its new move may be too little, too late

Verizon today announced its Q3 results, confirming its third consecutive quarter of customer losses. The upside is that this was the jolt the company needed, with the newly appointed CEO, Dan Schulman, committing to transformative changes to get back in customers’ good graces.

Verizon earned money but lost customers

From a financial perspective, Verizon’s third quarter wasn’t that bad. The company’s revenue rose 1.5 percent to $33.8 billion, and profit increased from $3.4 billion in Q3 2024 to $5.1 billion.Wireless service revenue also increased 2.4 percent to $17.4 billion. The company lost 7,000 wireless postpaid phone customers in Q3 2025, which is dismal, considering it added 18,000 customers during the same period last year. However, the company lost 51,000 postpaid subscribers in Q2 2025, so the situation seems to be improving.

The Business segment was a bright spot, gaining 51,000 customers. The broadband unit was a strong performer, adding 306,000 fixed wireless access and fiber customers.

Although the high churn rate or the number of customers leaving may not have had a financial impact yet, the same cannot be said about its wireless rankings. With T-Mobile ending the quarter with 1 million new customers, it might not be long before it dethrones Verizon as the carrier with the most subscribers. The company’s other major rival, AT&T, also added 405,000 new customers in Q3.

Aware of the company’s unpopularity, Schulman has vowed to make drastic changes and shift to a customer-first culture. He says that despite having an excellent network, the company has been losing market share.

The new CEO says that customers want value – an implicit admission that raising prices created bad blood. The company also aims to simplify its plans, which hints that new plans might be on the way.

In the last several years, despite our investment in network excellence, we have consistently lost market share. Today, that changes. We will leverage our network excellence to increase our share of net adds.

Dan Schulman, Verizon CEO, October 2025

The company aims to compete more aggressively against rivals to prevent customer poaching. It will also speed up its convergence strategy to court customers who want both mobility and broadband services.

Verizon will no longer be a hunting ground for competitors.

Dan Schulman, Verizon CEO, October 2025

Lastly, like T-Mobile, Verizon wants to increase its focus on efficiency. It plans to reduce costs and simplify its operations to funnel more investment into growth.

A make it or break it moment for Verizon

For far too long, Verizon thought it could get by by relying on high-value customers who weren’t moved by price changes, even as it lost subscribers. Three quarters later, it has finally realized that price increases have a ceiling.

T-Mobile is within striking distance of overtaking Verizon as the nation’s largest carrier, a feat it will likely achieve soon.

However, this rude awakening was perhaps just what the company needed to be on its A-game. T-Mobile, on the other hand, continues to grow, despite also raising prices, a move enabled by its previous low rates.

Regardless, customers are souring on the Big Three, and if Verizon rises to the challenge and reinvents itself as the new un-carrier, these customer losses would prove to be a blessing in disguise.

It’s not that simple

While Schulman talks about network excellence, it cannot be denied that T-Mobile is leading when it comes to 5G and even beyond. Verizon cannot erase that lead simply by offering better value. It also needs to keep pace with T-Mobile in introducing new technologies.

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