September 1, 2007 |
AT&T Inc. and Verizon Communications Inc. can each merge their local and long-distance telephone operations with fewer government restrictions than some rivals wanted, U.S. regulators said. The Federal Communications Commission agreed to exempt the two biggest U.S. phone companies from price caps and other so-called dominant-carrier rules on long-distance service. Qwest Communications International Inc. won the same type of exemption in February.
May 3, 2006 |
Verizon Communications Inc., the second-largest U.S. telephone company, said first-quarter profit fell 7.1% after it acquired MCI Inc. and expanded its television service. Net income declined to $1.63 billion, or 56 cents a share, from $1.76 billion, or 63 cents, a year earlier, Verizon said. Revenue rose 25% to $22.7 billion. Excluding some costs, profit was 60 cents a share. Spending increased to $4.
September 19, 2000 |
Verizon Communications, the No. 1 U.S. local-telephone company, said its Verizon Wireless unit will invest more than $550 million next year in its Southern California digital and analog networks. The so-called dual-mode networks cover Los Angeles, Orange, Riverside, San Bernardino and Ventura counties. Shares of New York-based Verizon Communications fell $1.13 to close at $43.38 on the NYSE.
September 26, 2000 |
Verizon Communications, the largest U.S. cellular phone provider, said it broke with the industry and agreed to support laws that would ban hand-held cell phone use while driving, a practice blamed for deadly accidents. The New York-based company's apparent change of heart came as a committee of Chicago aldermen postponed a vote on a ban.
April 29, 2004 |
Verizon Communications Inc. said Wednesday that shareholders rejected a proxy resolution to separate the roles of chairman and chief executive, four months after CEO Ivan Seidenberg became head of the board. Based on a preliminary count, 63% of shares voted were against the proposal, made by the AFL-CIO labor union. Shareholders approved the reelection of the board and rejected six other proposals, Seidenberg said at Verizon's annual meeting.
April 28, 2004 |
Boosted by 1.4 million new wireless customers, Verizon Communications Inc. on Tuesday posted a 3.9% hike in first-quarter revenue, but higher costs and lower revenue from its regular land-line business led to a 50% drop in net income. The nation's largest telephone company earned $1.2 billion, or 43 cents a share, for the first three months, down from $2.4 billion, or 87 cents, in the same period last year. Revenue rose to $17.1 billion from $16.3 billion.
July 28, 2004 |
Verizon Communications Inc., the nation's largest phone company, said Tuesday that it had posted increases in second-quarter revenue and profit as growth in its wireless business helped offset a continuing slump in its traditional land-line business. Verizon, California's second-largest phone operator, said earnings were $1.8 billion, or 64 cents a share, up significantly from $338 million, or 12 cents, a year earlier. Revenue for the New York-based company rose 6% to $17.8 billion from $16.
January 30, 2004 |
Verizon Communications Inc. on Thursday reported stable sales and operating results for the fourth quarter, giving Wall Street something to smile about in the long-bedraggled telecommunications industry. But the nation's largest telephone company still lost $1.5 billion, or 53 cents a share, for the quarter, mainly because of a $2.9-billion charge to cover the expenses of 21,000 employees who took early retirement during the final three months of the year.
August 29, 2003 |
SBC Communications Inc., Verizon Communications Inc. and other local telephone companies Thursday asked a court to overturn new federal rules that give states more authority to decide whether the carriers must lease network components to rivals at discounts. SBC, BellSouth Corp., Qwest Communications International Inc. and the United States Telecom Assn., which represents local carriers, filed the petition with the U.S.