Cellphone Growth Strong at Verizon |
| New York Times - Oct 30, 2007 |
Verizon Communications reported better-than-expected third-quarter profit yesterday, driven by strong wireless subscriber growth, though analysts were not impressed by its Internet subscription sales.
Despite the threat of losing subscribers to the iPhone from Apple Inc., which is available only on AT&T, customer growth at Verizon Wireless exceeded Wall Street expectations and made up for a slowdown in Verizon’s landline business.
“It’s a story of tremendous strength in wireless and continued deterioration in wireline,” said Craig Moffett, an analyst at Sanford C. Bernstein & Company.
Verizon Wireless, a joint venture with Vodafone, added 1.8 million net retail customers in the quarter, taking total subscribers to 63.7 million. It accounts for about half of the revenue of Verizon Communications.
Read Full Article from New York Times
- Posted: 2007-10-30 10:58:26
| More Stock Investor Place Financial News |
 |
|
|
|
| Stock Investor Place Financial News Archive |
|
|
|
