Verizon Grosses &#36;3.04B in Fourth Quarter
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Verizon Communications Inc. earned &#36;3.04 billion in the fourth quarter, posting a 6 percent revenue gain as another powerful showing by the cellular business more than compensated for the continuing decline of traditional local phone service.
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The mobile phone maker said  fourth-quarter net profit rose to $2.6 billion and that it had reached its long-term goal of 40 percent market share in handset sales. The companyâs stock soared.
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Verizon Communications Inc. VZ.N,  the largest U.S. telecommunications company, on Thursday  reported third-quarter earnings virtually unchanged from the  year before as wireless and high-speed Internet sales offset  losses of local phone lines.
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The investment bank reported $3.17 billion profit for the fiscal fourth quarter, driven by gains in its investment banking and financial advisory segments.
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Infineon&#39;s net profit fell to $54.6 million in the fourth quarter from $63 million in the third quarter of last year. The net result came up short of analyst forecasts of $169 million.
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Verizon Communications (NYSE: VZ) posted profit of US&#36;1.796 billion for its third quarter, up from &#36;1.791 billion a year ago. The company attributed the slight rise to its wireless segment, which brought in an additional 1.7 million wireless customers.
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The company's fourth-quarter earnings beat analyst expectations.
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General Electric today reported third-quarter earnings of $4.051 billion, an increase of 1 percent from the same quarter last year.
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Mylan releases its fourth-quarter financial results.
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InfoWorld - 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 Communications Inc.&#39;s third-quarter profit held steady at about $1.80 billion as declining revenues from traditional phone services at the nation&#39;s biggest telephone company were offset by another blockbuster quarter for Verizon Wireless, which
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The retailer said net income in the fourth quarter rose to $4.1 billion as its focus on low prices paid off. International growth also helped lift profit and sales.
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The company said it lost $3.36 billion in the fourth quarter because of accounting rules related to the purchase of Organon BioSciences.
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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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YESTERDAY Close $38.03 Change +$0.20 52-WEEK High $38.49 Low $29.00 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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The San Francisco-based company said that it earned $267 million during its fiscal fourth quarter, which ended Nov. 25, up from $96 million at the same time in 2006.
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The managed care provided also cited premium and fee rate increases and continued cost cuts and stock buybacks as it posted net income of $448.4 million, up 3 percent from a year earlier.