Verizon announced Thursday a third consecutive quarter of double-digit percentage growth in year-over-year earnings, getting a lift from iPhone sales and an addition of 1.5 million new postpaid wireless customers on contract in the third quarter. That's its biggest increase in customers in four years.
Verizon Enterprise Solutions experienced growth in the quarter. "The organization saw new customers leveraging its dynamic cloud, intelligent networks, mobility and machine-to-machine (M2M) platforms," Verizon said.
Meantime, the company announced an agreement to transfer pension assets to The Prudential Insurance Company of America by purchasing a single premium group-annuity contract to settle approximately $7.5 billion of Verizon’s obligations for approximately 41,000 participants under its management pension plan. The closing of the transaction, which is subject to certain conditions, is expected to occur in December 2012.