Verizon reports steady profit

Verizon Communications reported steady earnings in a stormy economy, according to an Associated Press report.

The US' second-largest telecoms company said first-quarter earnings rose 9.8% as its mobile division signed up more new customers than rival carriers did, the report said.

Verizon earned €1.02 billion (US$1.64 billion) in the quarter that ended March 31, compared with €959 million (US$1.5 billion) a year ago.

Revenue rose 5.5% to €15.1 billion (US$23.8 billion).

Earnings matched expectations of analysts polled by Thomson Financial. Revenue fell slightly short of analyst expectations of €15.2 billion (US$23.86 billion).

Analysts reckon carriers will hold up well, even as the economy slows, which AT&T, Verizon's largest rival, did with an earnings report last week that showed little sign of trouble.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.