Verizon Earnings Get a Weak Reception

Shares slipped Monday, after an analyst says the telecom giant's results barely met forecasts

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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