Mike Temporale
10-31-2006, 05:00 PM
<div class='os_post_top_link'><a href='http://www.infoworld.com/article/06/10/30/HNverizonup_1.html?source=rss&url=http://www.infoworld.com/article/06/10/30/HNverizonup_1.html' target='_blank'>http://www.infoworld.com/article/06/10/30/HNverizonup_1.html?source=rss&url=http://www.infoworld.com/article/06/10/30/HNverizonup_1.html</a><br /><br /></div><i>"Verizon Communications Inc. reported net income of US$1.9 billion for the third quarter of 2006, almost identical to its income from a year earlier, before the telecommunications giant acquired rival MCI Inc. Verizon's total revenue for the quarter was $23.3 billion, a 25.8 percent increase compared with the third quarter 2005. Operating expenses, however, were up 29 percent, to $19.3 billion. Verizon's financial results for the past quarter include revenue and expenses from MCI. The $8.5 billion deal closed in January."</i><br /><br /><img src="http://www.smartphonethoughts.com/images/verizon.gif" alt="User submitted image" title="User submitted image"/> <br /><br />Verizon is reporting the forth straight quarter of 18% or higher revenue growth. They attribute this growth on the demand for data services. I guess now we know why their data plans cost so much. :? Verizon is also reporting the lowest industry turnover at just 1.24%, and adding 1.9 million net customers in the 3rd quarter alone. There's no mention of the Q in the report, but I think it's pretty obvious that it played a role in the customer and revenue growth.