Monday, October 30, 2006

Verizon's Earnings

AP via Forbes:
Verizon Communications Inc.'s profit edged up in the third quarter, beating Wall Street forecasts as a powerful showing by Verizon Wireless and the addition of the MCI long-distance business helped boost the phone company's revenues nearly 26 percent.

The company said Monday it earned $1.92 billion, or 66 cents per share, in the July-September quarter, up from $1.87 billion, or 68 cents per share in the same period last year. Per-share results fell because Verizon (nyse: VZ - news - people ) has more shares outstanding than a year ago.