New York (NY) – Verizon Communications posted a modest increase in profit thanks to a healthy rise in mobile phone subscribers. Net income for the second quarter rose 4.5 percent to $1.68 billion.
Verizon Wireless, the company’s joint venture with Vodafone, saw a 13 percent increase in subscribers over last year, going from 54.8 million to 62 million users. Wireless revenue makes up 45 percent of Verizon Communication’s revenue.
Read more … Bloomberg.