Verizon Sees Lower Profits in Q4

Wireless was once again a bright spot for Verizon Communications Inc. (NYSE: VZ), which this morning reported increased sales thanks, in part, to greater consumer demand for high-speed data services.

Verizon says that its fourth-quarter 2006 quarterly earnings fell to $1.0 billion, or 35 cents per share, from $1.7 billion, or 59 cents per share, in the year-ago quarter, due in part to charges related to the sale of its Dominican Republic business.

The company noted that its revenues were up thanks to growth in its wireless joint venture with Vodafone Group plc (NYSE: VOD) and new high-speed Internet subscribers. Revenues rose 26.1 percent to $22.6 billion compared to the same quarter in 2005.

Get the rest of the story at Unstrung.

— Dan Jones, Site Editor, Unstrung

Be the first to post a comment regarding this story.
Sign In