Shares of Verizon VZ are up 4% in premarket trading Monday, after the company said it expects $19.5 billion to $20.5 billion in free cash flow for the full year, whereas it was previously modeling $17.5 billion to $18.5 billion.

Verizon beat Q2 expectations and raised guidance, but macro risks, tariffs, and subscriber losses cloud the outlook. See why VZ stock is upgraded to hold.