Verizon said it earned $1.7bn (+31%) in the quarter, on revenues of $ 24.7bn (+4%). Mobile revenues account for $12.7bn (+12%), and generated $1.9bn in operating income on Verizon book. The mobile unit added 1.5m new subscribers in the quarter, as well as 630k new subscribers coming from the acquisition of Rural Cellular. Its mobile customer base reached 70.8m at the end of the quarter. The wireline business lost 1m phone lines (-12%) to 37.1m, also lost 96k DSL lines but added 233k FiOS subscribers.
The Verizon- Alltel merger has been cleared by the FCC, so Verizon would add Alltel' s 13m subscribers. The stock price increased by 9% on the results.