Review: Proporta TurboCharger 5000 – External Emergency Charger Battery Pack
Verizon Communications Inc. said Monday earnings rose 31 percent in the third quarter as wireless did better than expected, while its traditional phone business continued to decline. The country’s second largest telecommunications company, after AT&T Inc., earned $1.67 billion, or 59 cents per share, up from $1.27 billion, or 44 cents a share, a year ago. Revenue rose 4.1 percent to $24.7 billion. Excluding charges for job cuts and merger costs, Verizon earned 66 cents per share, matching the average estimate of analysts polled by Thomson Reuters. They were expecting $24.52 billion in revenue. Chief Executive Ivan Seidenberg said business was holding up well despite the economic turmoil, but said it would have an effect in the current quarter. “For the Christmas season, consumer spending will be somewhat lighter, and business spending will be somewhat curtailed,” he said in a conference call. Seidenberg said the company expects to increase earnings, excluding items, by 8 percent from last year. At the beginning of the year, it had put the increase at 8 percent to 10 percent. The new forecast indicates fourth-quarter earnings of 62 cents per share, falling below the 65 cents per share analysts are expecting. Investors, however, found Verizon’s results reassuring, sending shares up $2.27, or 9.1 percent, to $27.35 in morning trading. Seidenberg also said Verizon Wireless still views its planned acquisition of Alltel Corp. as attractive, even though borrowing costs will be higher than when the deal was announced this summer. There had been speculation that the company would back away from the deal due to the turmoil in the credit market. Verizon Wireless added 1.5 million subscribers in the quarter, more than most analysts had expected, particularly after AT&T reported adding 2 million subscribers in the period. Of those, nearly a million were people who came over from other carriers to get the iPhone, which is…
View post: Verizon Third-Quarter Earnings Up 31 Percent
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mona mccallum