Verizon Wireless Booming, Profit Still Drops |
| NewsFactor Network - Apr 30, 2007 |
In Verizon's wireless division, the cell phone business continued to demonstrate strong customer retention; the number of customers leaving Verizon Wireless, known as churn, averaged 1.08 percent of the customer base per month, well below the company's major rivals. But on the wired side of Verizon's business, Verizon continued to lose residential phone customers.
Verizon Relevant Products/Services Communications Inc.'s first-quarter earnings fell 8.4 percent to $1.5 billion as the loss of income from some divested operations outweighed another strong showing by the telephone company's fast-growing wireless business.
The profit for the first three months of 2007 amounted to 51 cents per share, the company reported Monday. In the same period last year, before Verizon's divestiture of its phone directories business, earnings totaled $1.63 billion, or 56 cents per share.
Read Full Article from NewsFactor Network
- Posted: 2007-04-30 10:46:56
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