Wireless and fiber broadband drive up Verizon's income

WIRELESS AND FIBER BROADBAND DRIVE UP VERIZON'S INCOME
[SOURCE: InfoWorld, AUTHOR: Grant Gross]
Verizon Communications posted net income of $4.2 billion for the third quarter, up 19 percent from a year ago, driven largely by new wireless and fiber broadband customers. The company added 1.6 million wireless customers and 229,000 new FiOS (fiber optic service) fiber-based broadband customers. The company's Verizon Wireless subsidiary now has 63.7 million customers, and Verizon now has 1.3 million FiOS broadband customers since launching the service in early 2005. Verizon reported total revenue of $23.8 billion, up 5.8 percent from the third quarter of 2006. Telecom analyst Jeff Kagan said Verizon's FiOS push is beginning to pay off. Verizon is headed in the right direction, he said. "It has taken a long time and cost a lot of money for Verizon to get to where they are today with their television and Internet," Kagan said. "However, now that they are beginning to deliver on the FiOS promise, the customers seem to be welcoming the offering." The now ready telecom-based television services are pumping new life into the telecom carriers, after cable TV companies beat them to the punch by offering voice service before telecoms received regulatory approval to offer TV service, Kagan said. "All of a sudden that dynamic is shifting," he said. "Suddenly telephone companies like Verizon and AT&T are doing very well, as cable television companies are struggling with their sagging stock price."
http://www.infoworld.com/article/07/10/29/Verizon-income-up-due-to-wireless-broadband_1.html

* Verizon Cracks 700,000 Subscriber Mark for FiOS
http://www.multichannel.com/article/CA6495162.html?rssid=196