Wireless Driving Profits for big Phone Carriers

WIRELESS DRIVING PROFITS FOR BIG PHONE CARRIERS
[SOURCE: C-Net|News.com, AUTHOR: Marguerite Reardon]
Wireless continues to be a saving grace for big phone companies, which face increased competition from cable companies adding voice communication to their bundles of services. Verizon Communications said Monday that revenue from its stake in Verizon Wireless helped boost profits during the third quarter of 2006. Meanwhile, Verizon dealt with increasing pressure from cable companies that ate into the company's profits. The news comes just days after AT&T and BellSouth, which jointly own Cingular Wireless, reported strong profit gains that they attributed to increased wireless revenue. Meanwhile, AT&T executives also acknowledged pressure on traditional phone and high-speed Internet growth from increased cable competition. In total, Verizon profits were up only slightly, 2.8 percent to $1.92 for the quarter ended Sept. 30. That compares with a profit of $1.87 billion during the same quarter a year earlier. Revenue increased 26 percent to $23.25 billion, up from $18.49 billion last year. Verizon Wireless, jointly owned by Verizon and European phone company Vodafone Group, increased revenue 19 percent to $9.87 billion. The mobile operator added 1.9 million new customers, bringing its total to 56.7 million. Cingular, its closest rival, finished the quarter with 58.7 million customers, and reported revenue of $9.55 billion in the third quarter.
http://news.com.com/Wireless+driving+profits+for+big+phone+carriers/2100-1036_3-6130688.html?tag=nefd.top

VERIZON TOUTS BROADBAND, VIDEO GROWTH
[SOURCE: Broadcasting&Cable, AUTHOR: Glen Dickson]
Verizon posted revenues of $23.3 billion for the third quarter, a 25.8% jump from the previous year, and earnings of $1.9 billion compared with $1.9 billion in the third quarter 2005. The company pointed to the initial success of its fiber-based FiOS video and data network and said the FiOS additions are helping to offset its gradually eroding business in providing traditional phone service. The telco had 118,000 FiOS TV customers at the end of Q3, an average 10% penetration for the markets where it's available. It added 147,00 FiOS Internet customers in the quarter for a total of 522,000 customers using the fiber network for their data services.
http://www.broadcastingcable.com/article/CA6386703.html?display=Breaking+News