Verizon 1Q profit surges on Vodafone-related gains

[Omaha Steve]

Source: AP-EXCITE

By BREE FOWLER

NEW YORK (AP) - Verizon's $130 billion deal to take over of all of Verizon Wireless is helping lift its profit.

The largest U.S. cellphone carrier on Thursday posted a 23 percent profit increase in its first quarter, during which it completed the acquisition of the 45 percent stake in its wireless division from British cellphone carrier Vodafone Group PLC. (VOD)

Verizon is reaping the benefits of higher profits and full access to Verizon Wireless' cash flows now that the deal has closed, said Verizon CFO Francis Shammo on a conference call with investors.

Verizon Communications Inc. (VZ) said its first-quarter net income rose to $5.99 billion, or $1.15 per share, from $4.86 billion, or 68 cents per share, in the January-March quarter of 2013.

FULL story at link.


Read more: http://apnews.excite.com/article/20140424/DADCI0L82.html

---

In this June 6, 2013, file photo, pedestrians pass a Verizon Wireless store on Canal Street in New York. Verizon reports quarterly earnings on Thursday, April 24, 2014. (AP Photo/John Minchillo, File)

[JustAnotherGen]

1. Wall street still isn't happy

Not enough net adds to impact arpa - eh? Aren't happy with VZW or AT & T Wireless.