Verizon Communications, the second largest US telecom group, has reported a 24 per cent fall in its April-June 2006 earnings to $1.6 billion from $2.1 billion in the corresponding quarter last year. This was despite a strong growth in its broadband and wireless operations. The fall in earnings thus reflects the company’s acquisition costs associated with its purchase of MCI and thecontinuing decline in its traditional fixed line business. The company’s total revenue, on the other hand, has increased 26 per cent to $22.6 billion. Separately, Verizon Wireless has selected Nortel to supply it with one of the industry’s most advanced CDMA 1xEV-DO Rev. technology.
