Verizon Earnings Get a Weak Reception
Thanks to strong growth at its wireless and broadband businesses and the acquisition of MCI customers in January, 2006, Verizon Communications (VZ) reported better-than-expected third-quarter results on Oct. 30. The phone operator posted a third-quarter profit of $1.92 billion, amounting to earnings per share of 66 cents, vs. 67 cents a year ago. This included a 2 cents per share charge for special items, including pension settlement charges, a Verizon Center relocation, and merger integration costs. Revenue in the quarter rose 26% from a year ago to $23.25 billion.
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