Home / Uncategorized / Verizon enjoys good first quarter
Image_36297_tmimage.jpg

Verizon enjoys good first quarter

It’s not immediately obvious at first glance, but Verizon Communications had a strong quarter. Quarterly earnings were down, but a lot of that is due to merger costs with MCA. Revenues were up, thanks largely to success in the overall wireless industry. Verizon Communications co-owns Verizon Wireless with Vodafone.

Earnings were down to a still healthy $1.63 billion for the quarter. Last year, they were $1.76 billion. Those earnings translate to 56 cents per share this quarter. Excluding unusual charges, the company says it earned 60 cents per share, a penny above analyst’s estimates.

Revenue for the quarter was $22.74 billion. That’s up substantially from 2005, when revenue in the quarter was $18.18 billion. Verizon did not own MCI at that time, though.

The results for Verizon Communications mirror those of other regional U.S. phone companies. AT&T reported numbers that also beat analyst’s estimates, while BellSouth also reported a comfortable revenue increase.

Comments

comments

About T.O. Whenham

Check Also

wii-oculus-rift-hoverboard

Try Oculus Rift And Wii To Roam Around On The Back To The Future Hoverboard

Check out how you can fly in virtual space by using an Oculus Rift and a Wii Balance Board.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>