Verizon revenue grows on wireless

Iria · May 2, 2006, 11:18 PM

Source: News.com
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Wireless sales boosted Verizon Communications' revenue first quarter of 2006, as the company looked for ways to compete more aggressively with cable operators on the wireline side of the business.

Verizon reported first-quarter revenue of $22.74 billion, up from $18.18 billion in the same period the previous year. But net earnings were down to $1.63 billion, or 56 cents a share, compared with $1.76 billion, or 63 cents a share, in the previous year.

Verizon Chief Financial Officer Doreen Toben attributed the earnings decline to costs associated with Verizon's purchase of long-distance carrier MCI, which was completed in January. Toben said profits should improve later in the year as a result of savings from the MCI deal.

May 2, 2006, 11:18 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Verizon revenue grows on wireless Source: News.com ___________ Wireless sales boosted Verizon Communications' revenue first quarter of 2006, as the company looked for ways to compete more aggressively with cable operators on the wireline side of the business. Verizon reported first-quarter revenue of $22.74 billion, up from $18.18 billion in the same period the previous year. But net earnings were down to $1.63 billion, or 56 cents a share, compared with $1.76 billion, or 63 cents a share, in the previous year. Verizon Chief Financial Officer Doreen Toben attributed the earnings decline to costs associated with Verizon's purchase of long-distance carrier MCI, which was completed in January. Toben said profits should improve later in the year as a result of savings from the MCI deal.