Verizon Posts Lower Net, but Sales Rise
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Strong wireless and Internet subscriber growth pushed revenue up at the phone company, but profit fell after merger-related costs and other items.
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Verizon Communications Inc.'s third-quarter profit held steady at about &#36;1.80 billion as declining revenues from traditional phone services at the nation's biggest telephone company were offset by another blockbuster quarter for Verizon Wireless, which added a record 1.7 million subscribers.
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Motorola Inc. MOT.N, the world's No.  2 maker of cell phones, on Tuesday said its quarterly profit  more than tripled, but growth in handset volumes disappointed  Wall Street and its shares fell 4.5 percent.
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Motorola Inc., the world's No. 2 maker  of cell phones, on Tuesday said its quarterly profit more than  tripled, but growth in handset volumes disappointed Wall Street  and its shares fell 4.5 percent.
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AT&T Inc.  on Tuesday posted higher-than-expected quarterly profit on strong wireless subscriber growth, but results of the first two days of iPhone sales fell short of forecasts.
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Qualcomm Inc.&#39;s earnings rose 35 percent on continued sales growth in its fiscal fourth quarter, but the cell-phone technology company projected earnings for the new fiscal year below Wall Street&#39;s views.
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Verizon Communications Inc.'s third-quarter profit held steady at about $1.80 billion as declining revenues from traditional phone services at the nation's biggest telephone company were offset by another blockbuster quarter for Verizon Wireless, which added a record 1.7 million subscribers.
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Operating profits slipped 5.5 percent at Cingular Wireless LLC despite gains in both subscribers and revenue in what was likely the last full quarter before the company's completes its &#36;41 billion purchase of AT&amp;T Wireless Services Inc.
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Lucent Technologies Inc.  on Wednesday posted lower quarterly earnings and disappointing sales despite improved demand for wireless network products, and the telecommunications gear maker's shares fell.
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U.S. stocks opened lower on Thursday,  weighed down by disappointing earnings from eBay Inc. and a  lower-than-expected profit forecast from Qualcomm Inc. .
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Wireless technology company Qualcomm Inc.  on Wednesday posted quarterly earnings that rose 46 percent on strong sales of cell phones using its chips, but it said current-quarter earnings would fall short of the average Wall Street forecast.
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Verizon Communications Inc.   reported better-than-expected quarterly earnings on Tuesday due  to strong growth in its mobile business, but shares fell as it  dashed investors' hopes that it may soon gain full ownership of  its Verizon Wireless joint venture.
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Verizon Communications , the  nation's biggest telephone company, on Tuesday reported  better-than-expected quarterly operating earnings on strong  growth in its wireless business.
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NEW YORK -- Verizon Wireless added 2.3 million customers, most of them prized monthly subscribers, to put a shine on a fourth quarter when Verizon Communications Inc.'s profit was cut by restructuring costs.
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U.S. blue chips were lower on Tuesday,  as a drop in phone company Verizon Communications Inc. VZ.N  overshadowed a brokerage upgrade on Caterpillar Inc. CAT.N  and a three-session drop in oil prices.
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Driven largely by gains in its wireless and data businesses, Verizon Communications' revenue was up 5.5 percent year over year in the fourth quarter of 2007, and net income was up slightly.
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Verizon (VZ:NYSE - news - research) Thursday posted a solid quarter as its wireless operation continues to pick up steam. For its third quarter ended Sept.