Verizon third-quarter profit falls
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Verizon Communications Inc  said on Monday its quarterly revenue rose due to strong wireless subscriber growth, although profit fell after merger-related costs and other items.
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Motorola Inc  on Thursday  posted a small third quarter profit from continuing operations  and forecast another profit for the current quarter even as  revenue fell from a year ago.
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The investment bank reported 3rd-quarter profit fell 3% to $887 million, on fallout from the subprime-mortgage crisis.
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Verizon Communications posted net income of $4.2 billion for the third quarter, up 19 percent from a year ago, driven largely by new wireless and fiber broadband customers, the company said Monday.The company added 1.6 million wireless customers and 229,000 new&#160;Fios fiber-based broadband&#160;customers, Verizon said. The company&#39;s Verizon Wireless subsidiary now has 63.7 million customers, and Verizon now has 1.3 million Fios broadband customers since launching the service in early 2005.Verizon reported total revenue of $23.8 billion, up 5.8 percent from the third quarter of 2006. Verizon&#39;s earnings per share, however, fell from $0.53 a year ago to $0.44 this quarter.Verizon&#39;s quarterly results show the company has &quot;hit its stride&quot; in offering wireless, broadband, and telecommunication services to large businesses, Chairman and CEO Ivan Seidenberg said in a statement.Among the highlights was an all-time high for Verizon wireless on average monthly revenue per customer, Verizon said. The average for retail voice service was $52.17 per customer, up 1.9 percent over a year ago.In addition to the customer gains for Fios broadband service, the company also added 202,000 Fios television customers, bringing the total number of Fios TV customers to 717,000. Verizon added 285,000 new broadband connections, including Fios and DSL (Digital Subscriber Line). Verizon now has 8 million broadband connections, up 21.3 percent over last year.Fios is available to 6.5 million U.S. residences.But total wireline revenue was down 0.8 percent from last year at $12.7 billion this quarter.Independent telecom analyst Jeff Kagan said Verizon&#39;s Fios push is beginning to pay off. Verizon is headed in the right direction, he said.&quot;It has taken a long time and cost a lot of money for Verizon to get to where they are today with their television and Internet,&quot; Kagan said. &quot;However, now that they are beginning to deliver on the Fios promise, the customers seem to be welcoming the offering.&quot;The now ready telecom-based television services are pumping new life into the telecom carriers, after cable TV companies beat them to the punch by offering voice service before telecoms received regulatory approval to offer TV service, Kagan said.&quot;All of a sudden that dynamic is shifting,&quot; he said. &quot;Suddenly telephone companies like Verizon and AT&amp;T are doing very well as cable television companies are struggling with their sagging stock price.&quot;
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Mobile service provider Cingular  Wireless, which is buying AT&T Wireless Services  Inc. AWE.N,  said on Wednesday third-quarter operating profit fell on merger  expenses and increasing costs for signing up new customers.
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Wireless technology company Motorola Inc. said Thursday its profit plunged 94 percent in the third quarter, as sales fell substantially in its cell phone business and it narrowly averted a third straight quarterly loss.
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Diversified manufacturer 3M Co.  posted a weaker-than-expected quarterly profit on Tuesday and said global economic growth was slowing, sending its shares down 4.7 percent and weighing heavily on blue chip stocks overall.
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Shares of the worldâs biggest maker of mobile networks fell 24% after announcing a drop in third-quarter profit amid weaker demand for equipment in Europe and the U.S.
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AT&T Wireless Services Inc. AWE.N  said on Tuesday its third-quarter profit declined as customers  spent less per month, offsetting a rise in net new customers.
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Nokia has reported a 20% decline in net profit for the third quarter, due largely to cuts it made in the prices for its mobile phones and predicted that earnings would fall again in the fourth quarter.
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US phone giant Verizon sees its profits fall 38% due to the cost of building a new fibre-optic network.
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The phone provider reported a 14.6 percent drop in third-quarter profit on flat revenue and a continued loss of local access lines.
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Cypress Semiconductor Corp., which makes computer and communications chips, on Thursday said third-quarter profit dropped as demand dried up throughout the industry.
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Midland Co. on Thursday said third-quarter profits fell by almost half as the specialty insurer sustained heavy claims losses from the hurricanes that swept through the Southeast during the summer.
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BellSouth Corp. on Monday said third-quarter earnings fell due to storm damage in its region and costs stemming from Cingular Wirelessâ planned $41 billion purchase of AT&amp;T Wireless Services Inc.. The No.
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The company said third-quarter net income fell 5 percent on weakness in refining, but the decline was less than Wall Street had feared.
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SAN FRANCISCO - Advanced Micro Devices Inc. reported a third-quarter profit from a loss a year-earlier on today, but sales fell from the second quarter in line with the chip maker&#39;s recently reduced outlook.