Verizon Communications's second-quarter earnings rose 12%, the company said, while revenue was slightly shy of expectations and customers disconnected their landlines faster than before, an Associated Press report said.
The nation's second-largest telecommunications company earned â‚¬754.5 million (US$1.88 billion), in the quarter ended June 30, up from â‚¬741 million (US$1.68 billion), a year ago, the report added.
Revenue rose 3.7% to â‚¬15.3 billion (US$24.1 billion) from â‚¬14.7 billion (US$23.27 billion) a year ago. Thomson says analysts expected â‚¬15.4 billion (US$24.2 billion).
Investors had been expecting the weak economy to catch up to the big telecommunications companies in the second quarter.
AT&T's report last week showed that customers were quicker to move to wireless and cable telephone, but the company otherwise did better than expected.
Verizon lost 11.4% of its residential landlines in the past year, up from a 10.9% decline in the first quarter. But the second quarter is usually a poor one for landlines, said Verizon CFO Doreen Toben.
Looking ahead, Verizon expects to remain relatively insulated from the turmoil in the economy, the Associated Press report further said.