Re: Verizon wired lines shrinking, over 1 Million Cancel
- From: "Geoff Brozny" <gbrozny@xxxxxxxxxxxxxxxxxxxx>
- Date: Thu, 3 Aug 2006 20:03:55 -0400
<jgrove24@xxxxxxxxxxx> wrote in message
news:1154648181.971073.109440@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Aug. 1 (Bloomberg) -- Verizon Communications Inc., the No. 2 U.S.
telephone company, said second-quarter profit fell as customers
switched to new providers such as cable-television company Comcast
Corp.
Net income declined 24 percent to $1.61 billion, or 55 cents a share,
from $2.11 billion, or 76 cents, a year earlier when the company had a
net gain of $336 million on the sale of assets. Sales rose 26 percent
to $22.7 billion, boosted by the purchase of MCI Inc., New York-based
Verizon said today in a statement.
Verizon lost 1.02 million local lines in the quarter, more than
analysts had thought, as it battled Comcast and Time Warner Inc., which
offer phone services in package deals including television and
high-speed Internet access. The January addition of long-distance
provider MCI and an 18 percent rise in revenue from Verizon Wireless
helped compensate for the losses.
Look out wool uniformed VZ ad guy..you're on the chopping block....JG
This has nothing to do with Verizon Wireless.
geoff
.
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