Verizon Reports 4.5% Earnings Growth

Verizon Communications Inc. on Monday reported second-quarter earnings that came in 4.5 percent higher than a year ago.

The nations second-largest phone company attributed the increase to growth in its wireless division.

Verizon earned $1.68 billion, or 58 cents per share, up from $1.61 billion, or 55 cents per share, in the second quarter of 2006. Revenue was up 6.3 percent to $23.3 billion.

The results met the expectations of analysts polled by Thomson Financial; experts were expecting 58 cents per share. Numbers were higher than the same period last year because Verizon has sold or spun off several businesses, including its Yellow Pages unit.

Verizon stock was down 79 cents at $41.21 during mid-day trading.

Verizon Communications Inc.

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