By Allen Tsai | Mon Oct 27, 2008 5:46 am |
Verizon said today earnings rose 31 percent in the third quarter as wireless did better than expected.
The telecom company also said that its acquisition of Alltel was beneficial in the long run, making it the largest U.S. carrier, surpassing AT&T.Verizon's third-quarter profit rose to $1.67 billion, or 59 cents a share, from $1.27 billion, or 44 cents a share in the same quarter a year earlier. Chief Executive Ivan Seidenberg said business was holding up well despite the economic turmoil, but said it would have an effect in the current quarter. "The general consensus is that for the Christmas season, consumer spending is likely to be lighter and business spending will be somewhat curtailed until next year," he told analysts on a conference call. Verizon added 1.5 million new subscribers in the quarter. It also added 600,000 subscribers through the acquisition of Rural Cellular, and ended the quarter with 70.8 million customers.
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Tue Feb 07, 2012 2:31 pm | By
Verizon plans to sell the Motorola Droid 4, its flagship Android 4G device, on February 10 for $200 with a two-year contract.
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Tue Feb 07, 2012 11:49 am | By
Verizon plans to offer a "double-data" promotion, as the carrier attempts to boost its 4G LTE network.
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Mon Feb 06, 2012 1:33 pm | By
Verizon and Redbox plan to launch an online media-streaming service, forging a partnership to compete in the crowded field of digital content delivery.
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Wed Feb 01, 2012 4:22 pm | By
Verizon and Comcast are preparing for a Senate inquiry into their pending spectrum deal, as regulators monitor talks for precious airwaves.
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Tue Jan 24, 2012 1:58 pm | By
Verizon is staking its earnings on data services, despite slumping margins from discounted iPhone sales.
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