Verizon Reports Higher Revenue, Earnings

Verizon Communications Inc. on Wednesday said annual revenue rose in the first quarter on stronger earnings as wireless sales contributed to approximately 40 percent of the companys overall revenue.

Consolidated revenue of $18.2 billion increased 6.6 percent, or $1.1 billion, while earnings rose to $1.8 billion from $1.2 billion in the first quarter of 2004.

Verizon, the biggest phone company in the United States, said Verizon Wireless contributed $7.4 billion, or 40.8 percent, of quarterly revenue. This compares with wireless sales of $6.2 billion, or 36.1 percent of total revenue, in the quarter a year ago.

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