Verizon 4Q Profit Drops 38 Percent; Wireless Sales Up

Verizon (NYSE: VZ) on Monday reported a 38 percent drop in 4Q profit after divesting several businesses, but the telco added 2.3 million net wireless subscribers during the last three months of 2006.
Including the 2.3 million net customers added, the company’s Verizon Wireless business saw its U.S. subscriber base reach 59.1 million, up 15 percent from the same time a year ago. Other highlights included:
— The telecommunications giant had net income of $1.03 billion, or 35 cents a share, for the quarter, down from $1.66 billion, or 59 cents a share, a year ago.
— Verizon

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