Alltel reports strong Q2 growth

Alltel said its second-quarter local and wireless net profit totaled $402.1 million, up from $262.5 million a year ago. The carrier's revenue rose 11 percent to $2.26 billion, up from $2.04 billion in the second quarter of 2004. Wireless helped fuel Alltel's second-quarter growth. The carrier's wireless revenue grew to $1.5 billion, with income rising 17 percent to $307 million. Alltel's wireless unit added 53,000 subscribers -- down 65 percent from a year earlier -- but added 212,530 subscribers from recent acquisitions.

For more on Alltel's Q2 numbers:
- see this story from CBS MarketWatch