Verizon Posts First Quarter Profit with Growing Users

April 28th, 2008

“Verizon Communications Monday reported first-quarter adjusted earnings of $1.74 billion, or 61 cents a share, in line with the mean estimate of analysts polled by Thomson Reuters.

In the same period a year earlier, the company earned $1.63 billion, or 56 cents a share, including discontinued operations.

Revenue totaled $23.83 billion in the latest three months, up 5.5% from $22.58 billion in the same period a year earlier, and below Wall Street’s consensus estimate of $23.86 billion.

The Dow component’s wireless division said it had 1.5 million net customer additions in the quarter, bringing total customers to 67.2 million. Revenue from the company’s wireless division totaled $11.7 billion, up 13.2% year-over-year. Total churn for the business was 1.19%.”

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