Verizon Communications said yesterday that overall profit from the first three months of 2007 plunged due to discontinued operations. The light at the end of the tunnel was that profits from "continuing operations" stood fast based on strong wireless
and Internet subscriber growth. The financial deets: profit for the January to March period came in at $1.5 billion, down from $1.6 billion a year ago for the same period. But, that year ago period included some assets that are now gone and a telephone directory business that Verizon spun off. What seems to keep these incumbent telecom companies afloat are wireless customers and Internet business growth (like FiOS
), yes? On that note, how many of you no longer have landlines? A show of hands if you please. Yep, we thought so.
*Verizon is currently in the process of acquiring AOL, Engadget's parent company. However, Engadget maintains full editorial control, and Verizon will have to pry it from our cold, dead hands.