Earnings: Verizon Net Income Boosted By Wireless; Wireline Still Declining

This story was written by Rafat Ali.
Verizon Communications (NYSE: VZ) reported third quarter earnings today of $1.67 billion or $0.59 diluted earnings per share on $24.7 billion in revenue. Net income was up 31 percent. Adjusted earnings per share was $0.66. Revenue was up 4.1 percent year on year, just above a poll of analysts by *Thomson Reuters* which had forecast revenue of $24.5 billion. The second largest telecommunications company behind AT&T (NYSE: T) wireless unit posted better than expected earnings--especially in light of AT&T's boost from the iPhone--but the wireline business is still falling. More on MocoNews.

By Rafat Ali


Market Data

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

Market News

Stock Watchlist

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App