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Earnings: Verizon Communications Profits Climb 9.8 Percent On Wireless Growth

This story was written by Dianne See Morrison.

Verizon (NYSE: VZ) has reported Q1 revenue of $23.8 billion, up 5.5 percent. Net income increased to $1.64 billion from $1.5 billion. Revenues at the company's wireless business rose to $11.7 billion, up 13.2 percent year over year. Revenue at Verizon's wireline business fell 1.4 percent. Wireline data revenues which now make up 40 percent of total wireline revenues were $4.9 billion, an increase of 14.8 percent compared with the first quarter 2007. FiOS TV added 263,000 new net customers in the quarter, bringing the total to 1.2 million, while FiOS Internet added 262,000 new net customers, bringing in a total of 1.8 million customers. Broadband subs also increased, rising to 8.5 million, a 14.9 percent increase from the year before. See more at our sister site

Earnings Release. | Webcast

By Dianne See Morrison

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