Verizon lifts annual forecasts, signs $1 billion fiber deal with Google
The agreement could be the first of several large fiber contracts as Verizon targets AI data-center demand and says revenue may reach multiple billions.
- On Friday, July 24, 2026, Verizon CEO Dan Schulman announced a deal worth more than $1 billion to supply dark fiber to Google, providing dedicated connectivity for Alphabet's data centers.
- Verizon's business segment grew revenue just 2.6% to $7.2 billion in the second quarter, prompting the company to pursue AI infrastructure contracts as Schulman noted the buildout represents "one of the largest capital cycles of our lifetime."
- Second-Quarter adjusted EBITDA reached $13.7 billion, up 7.2% year over year, while free cash flow for the first half of 2026 totaled $10.2 billion with dividends of $5.9 billion, maintaining a 6.3% dividend yield.
- Shares of Verizon rose more than 3% in Friday's opening trade, while Alphabet's Class A stock climbed about 1% as investors responded to the expansion of Verizon's fiber-optic connectivity business.
- Schulman described the agreement as "consequential" and expects to announce additional AI infrastructure deals by year-end, potentially worth multiple billions of dollars in revenue over the next several years.
15 Articles
15 Articles
Verizon lifts annual forecasts, signs $1 billion fiber deal with Google
Verizon raised its annual adjusted profit forecast and said it had secured a more than $1 billion deal with Google to provide dark fiber connectivity for its data centers, sending the telecom operator's shares up 3%.
Verizon Lands Over $1bn Google Fiber Deal, Expands Push Into AI Infrastructure Boom
Verizon Communications has signed a dark fiber agreement worth more than $1 billion with Alphabet’s Google, marking one of its largest artificial intelligence infrastructure contracts to date and positioning the U.S. telecom giant to capitalize on the multitrillion-dollar investment wave reshaping the technology sector. The agreement, announced Friday during Verizon’s second-quarter earnings call, will see […] The post Verizon Lands Over $1bn Go…
Verizon Signs Dark Fiber Deal With Google Worth Over $1 Billion
What Happened Verizon Communications has secured a contract worth more than $1 billion to supply dark fiber connectivity for Google’s data centers,… This post: Verizon Signs Dark Fiber Deal With Google Worth Over $1 Billion is first published on Compsmag.com
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