Mobile ops boost Verizon in third quarter

30 Oct 2007

Verizon Communications has reported a 5.8% rise in third-quarter revenues to USD23.8 billion, with growth boosted by a strong performance at its Verizon Wireless subsidiary. The group’s operating profit was up 19% to USD4.2 billion, though net income fell from USD1.92 billion (USD0.66 per share) to USD1.27 billion (USD0.44 a share). Verizon Wireless added 1.8 million net new customers in the three months to the end of September, taking its total subscriber base to 63.7 million. Revenues at the cellular division were up 14% year-on-year at USD11.3 billion. Verizon Communications’ fixed line business saw sales fall by 0.8% to just under USD12.7 billion, while the number of access lines in service dropped by 8% over the year to 42.32 million. There was better news from Verizon’s broadband internet operations, however, with subscribers up 21% to almost eight million.

United States, Verizon Communications, Verizon Wireless