hr: Money

Verizon’s sales in the fiber-optic services, and wireless communciations, seem to have allowed it to weather the economic situation that has affected almost everyone else. It’s shares rose 1.4% to $37.55 on Monday.

Photo Credit: JOE M500

With a 13% increase in earnings this year, Verizon met the expectations of Thomson Financial analysts. This didn’t even take into account 4 cents per share for special items, since analysts usually discount one time increases. Also in line with expectations, were it’s revenue, which rose 5.5% to $23.8 billion.

Verizon showed a 1.5 million increase in it’s wireless customer base. The company has been developing it’s wireless services very energetically, as it cannot continue to rely on it’s phone wire base, which has been declining. In fact, it is declining much faster than analysts had expected.

Craig Moffett, senior telecom analyst for Sanford C. Bernstein, is worried, that soon, the wired service will no longer be sustainable. On the other hand, the wireless business seems to have weathered the storm, as Verizon’s competitor AT&T showed improvements in it’s wireless growth as well.

Now that Verizon has added the FIOS TV fiber-optic service, with 263,000 new customers, it is in competition with Comcase, and Time Warner.