News Brief
Verizon Revenues Up In Q1
Apr 27, 2009, 5:08 PM
Verizon Communications reported operating revenues of $26.6 billion for the first quarter of 2009, up 11.6% over the same period last year. According to the company, a large portion of the increase came through the January 2009 acquisition of Alltel Corp.
On a pro forma basis, which consolidated the results of both companies as if they had been merged on January 2008, revenue grew 3.3%. The company's performance was boosted by growth for its Verizon Wireless division, the largest wireless operation in the country.
At the end of the first quarter, Verizon Wireless had 86.6 million customers (including 13.2 million Altell customers), up 29% over the previous year. Wireless revenues total $15.1 billion, up nearly 30% from the previous year and up 9% on a pro forma basis. --Aaron Baar
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