Verizon rakes in wireless fees in 1Q

Apr 18, 2013 by Peter Svensson

Verizon says its profit rose 16 percent in the latest quarter as revenue from wireless service kept rising at a rate that's the envy of the industry.

Inc. reported of $1.95 billion, or 68 cents per share, in the January to March period. That was up from $1.69 billion, or 59 cents per share, a year earlier.

Analysts polled by FactSet had on average expected earnings of 66 cents per share for the latest quarter.

First- was $29.4 billion, just short of the average analyst estimate at $29.5 billion.

Wireless service revenues rose 8.6 percent to $16.7 billion, accounting for more than half of overall revenue. At closest rival AT&T Inc., wireless service revenue has been rising just over 4 percent per year.

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onerichartist
not rated yet Apr 18, 2013
That's funny. All this profit and I couldn't receive email or send a picture for three days this week.