Verizon posts lower quarterly net, but sales rise
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Verizon Communications Inc  said  on Monday that quarterly revenue rose due to strong wireless  and Internet subscriber growth, although profit fell after  merger-related costs and other items.
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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 said current-quarter earnings would fall short of the average Wall Street forecast.
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Verizon Communications Inc. VZ.N,  the nation's largest telecommunications company, on Thursday  posted a quarterly profit on asset sales and strong demand at  its Verizon Wireless unit.
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Sales were lower than expected, and the quality of earnings is in question.
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The smartphone maker said Tuesday that it swung to a loss in its fiscal second quarter as revenue fell and expenses rose.
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Driven largely by gains in its wireless and data businesses, Verizon Communications&#39; revenue was up 5.5 percent year over year in the fourth quarter of 2007, and net income was up slightly.Verizon on Monday reported revenue of $23.8 billion for the fourth quarter, which ended Dec. 31, up from $22.6 billion in the fourth quarter of 2006. Verizon&#39;s net income rose from $1.03 billion to $1.07 billion this past quarter.Earnings per share was $0.37, or $0.62 before one-time items, matching consensus earnings expectations by analysts polled by Thomson Financial. However, analysts had expected revenue of nearly $24 billion for the quarter.Not counting one-time charges, operating income dropped 0.6 percent, to $3.4 billion. One-time items included severance packages for layoffs that will continue through 2008, and a spin-off of wireline access lines in parts of New England.Verizon reported &quot;strong growth in sales of all our strategic products,&quot; Verizon Chairman and CEO Ivan Seidenberg, said in a statement. &quot;We see significant opportunities to grow revenues and expand our leadership in wireless and broadband markets, while reducing operating expenses.&quot;Verizon&#39;s revenue for the year was $93.5 billion, up by $5.3 billion from 2006.Verizon focused on growth in a couple of key areas, including its wireless business.Verizon Wireless&#39; customer numbers increased 11.3 percent from the fourth quarter of 2006, to a total 65.7 million, the company said. Wireless revenue for the quarter was $11.4 billion, up 13.3 percent from a year ago. Verizon Wireless added 2 million customers during the quarter.Wireless data revenue was particularly strong, said Doreen Tobin, Venison&#39;s chief financial officer. Wireless data revenue grew by 65 percent in 2007, she said during a conference call.&quot;We see enormous potential for growth in wireless data for years to come,&quot; she said.Total wireless revenue grew 15.3 percent in 2007, to $43.9 billion for the whole year. &quot;We have a proven business model,&quot; Tobin said. &quot;These results are further evidence of great execution, sustainable growth, and strong cash generation.&quot;In Verizon&#39;s data business, the company added 245,000 Fios fiber-based Internet customers, and 226,000 Fios television customers. The company added a total of 264,000 broadband customers in the quarter, including Fios and DSL (digital subscriber lines). Data revenue increased 12.8 percent to $4.8 billion.Some of those gains were partially offset by a 1.4 percent decrease in overall wireline revenue. Wireline revenue was $12.5 billion for the quarter, which includes the data revenue.Verizon had a &quot;very good year,&quot; but it faces some challenges in 2008, said Jeff Kagan, an independent telecom analyst.&quot;This year will be a little tougher with trouble in the housing market and debates about a coming recession, but so far, so good for Verizon,&quot; Kagan wrote in an e-mail. &quot;The telecom industry continues its strong growth, and cable television competitors have signaled price increases again, but at some point soon brisk competition will break out between the cable television companies and the telephone companies.&quot;The competitive action has started in many markets, but will spread dramatically this year,&quot; Kagan added. &quot;This will be an exciting year to keep our eyes on.&quot;Verizon has not yet seen slumping sales due to fears of a recession in 2008, Tobin said.
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Sprint Nextel Corp. , the No. 3  U.S. wireless provider, said on Thursday its quarterly revenue  rose as it added new subscribers, while earnings fell after its  acquisition of Nextel.
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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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Verizon Communications announced earnings of $1.07 billion in the fourth quarter, but said its traditional telephone business remained a drag on the bottom line.
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Google Inc  reported a lower-than-expected quarterly profit on Thursday and predicted further spending to shore up its operations, sending its shares down as much as 9.5 percent.
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Wireless technology company Qualcomm  Inc. QCOM.O 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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Analog chipmaker National Semiconductor Corp.  posted a lower quarterly profit on Thursday as revenue fell 20 percent, but orders rose from the prior period and its shares climbed.
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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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Wireless technology company Qualcomm  Inc. QCOM.O on Wednesday posted quarterly earnings that rose  46 percent on strong sales of cell phones using its chips, but  said current-quarter earnings would fall short of the average  Wall Street forecast.
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Handheld computer and phone maker  Palm Inc.  on Thursday posted a higher quarterly profit  driven by sales of its Treo mobile phones, but issued a revenue  forecast that was below Wall Street estimates and shares fell 8  percent.
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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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Motorolaâs third-quarter earnings fell 94 percent, but the company beat expectations and forecast stronger sales in the fourth-quarter as new products start hitting the market.