Verizon Profit More Than Triples as IPhone Helps Win Users
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Verizon Communications Inc., the second-largest U.S. phone company, reported earnings that more than tripled as taxes decreased and the carrier attracted new customers after introducing Apple Inc.’s iPhone.
Net income rose to $1.44 billion, or 51 cents a share, New York-based Verizon said today in a statement. Analysts predicted 50 cents, the average of estimates compiled by Bloomberg. Sales were little changed at $27 billion.