Verizon Wireless Reports Higher Earnings
The wireless carrier posted 1Q revenue of $5.09 billion, up from $4.43 billion in the same period last year.Attributing customer growth, Verizon Wireless on Tuesday reported significantly higher first-quarter earnings from last year. The Bedminster, N.J., wireless carrier posted a first-quarter revenue of $5.09 billion, up from $4.43 billion in the same period last year, according to officials at Verizon Communications Inc., which is one of its parent companies. Verizon Wireless, the largest wireless carrier in the United States, is co-owned by Verizon and British carrier Vodafone Group Plc. Total customers grew 12.6 percent from the previous year to 33.3 million. Of the companys 833,000 new customers in the quarter, 755,000 were from retail operations; 6,000 were from property acquisitions; and 72,000 were from reseller operations, officials said.
The company increased its operating cash flow to $1.8 billion from $1.56 billion in the same period last year.
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