Wireless Revenue Up At Verizon
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Operating revenue at Verizon Communications increased 6.7 percent in the third quarter. Its wireless joint venture with Vodafone, Verizon Wireless, accounted for 40 percent of its revenue, with
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Sprint Corp., the No. 3 U.S.  wireless company, on Thursday said fourth-quarter earnings rose  on stronger sales in its wireless unit.
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Despite a dip in profits, growing revenues from wireless subscribers pushed overall profits above forecasts.
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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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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 worldâs largest maker of wireless networks said today that strong sales in Asia helped boost earnings to $960 million in the second quarter.
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The U.S. government raised $2.25  billion in an auction of wireless airwaves that ended on  Tuesday, with Verizon Wireless and a partner collectively  winning 63 licenses with almost $697.4 million in bids.
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Cingular Wireless, the mobile venture  of SBC Communications Inc. SBC.N and BellSouth Corp. BLS.N,  said on Monday revenue rose in the fourth quarter on strong  subscriber growth.
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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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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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Nokia said Thursday its third-quarter revenue and profits would be better than expected, citing an increase in mobile phone sales. The news pushed its shares up nearly 6.5 percent in trading.
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Nextel Communications Inc. yesterday reported improved profit and revenue during its third quarter as it boosted its subscriber base to 14.
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InfoWorld - AT&T's revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company said Thursday.
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AT&amp;T&#39;s revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company said Thursday.AT&amp;T&#39;s pro forma revenue was $30.4 billion for the quarter, up 2.9 percent from a year earlier, when comparing combined revenue from AT&amp;T, BellSouth and the former Cingular Wireless.&#160;AT&amp;T acquired BellSouth&#160;and&#160;Cingular&#160;on Dec. 29, 2006.A net gain of 2.7 million mobile subscribers helped drive up the year-over-year pro forma numbers, AT&amp;T said in a news release. Most of those subscribers&#160;came to AT&amp;T through its exclusive contract to provide service for Apple&#39;s iPhone; Apple said Tuesday it sold 2.3 million iPhones during the quarter.AT&amp;T&#39;s official reported revenue for the fourth quarter, which ended Dec. 31, was $30.3 billion, up from stand-alone revenue of $15.9 billion in the fourth quarter of 2006. Those numbers were up slightly from the third quarter of 2007. Some merger-related costs account for the difference in revenue figures.AT&amp;T reported a net income of $3.1 billion for the fourth quarter of 2007, up from $1.9 billion, mostly due to its acquisition of BellSouth and Cingular.By comparison, AT&amp;T also had net income of $3.1 billion for the third quarter of 2007, with both quarter&#39;s numbers including income from BellSouth and Cingular, which was co-owned by AT&amp;T and BellSouth.The company&#39;s reported earnings per share were $0.51, up from $0.50 in the fourth quarter of 2006. Excluding one-time charges, earnings per share was $0.71, matching consensus earnings expectations by analysts polled by Thomson Financial. However, AT&amp;T missed on the revenue side: analysts had expected it to post $30.55 billion.AT&amp;T had an &quot;excellent&quot; fourth quarter, Randall Stephenson, AT&amp;T&#39;s chairman, president and CEO, said in the statement. AT&amp;T&#39;s mobile customer increase was the largest quarterly gain ever by a U.S. provider, he said. The company had 70.1 million mobile customers at the end of the year.Stephenson also pointed to growth in AT&amp;T&#39;s enterprise and broadband businesses. &quot;These growth trends, combined with the significant opportunities we have for continuous cost improvements, reinforce the positive outlook we have for our business,&quot; Stephenson said. &quot;AT&amp;T has a terrific set of assets and an impressive record in terms of executing and delivering on targets, and I am very confident in our ability to drive strong results in 2008.&quot;AT&amp;T&#39;s mobile revenues were $11.4 billion, up 16.3 percent from the fourth quarter of 2006. Mobile data revenue was up 57.5 percent.In AT&amp;T&#39;s wireline business, the company had 231,000 subscribers to its U-verse IP-based video service at year&#39;s end, up from 126,000 at the end of the third quarter.AT&amp;T&#39;s broadband revenues grew 13.7 percent in the fourth quarter to $1.4 billion. Total high speed Internet connections, which include DSL, AT&amp;T U-verse high speed Internet and satellite broadband services, increased by 396,000 in the quarter to reach 14.2 million, up by 2 million from the end of 2006.
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Top telecommunications service provider AT&T Inc.  on Tuesday said its profit and revenue grew on an adjusted basis, helped by strong growth in its wireless business.
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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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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.