Verizon profits on strong mobile phone business

Verizon profits on strong mobile phone businessNew York  - Verizon, the second-largest US telecom firm, reported strong second-quarter profits on Monday thanks to its growing mobile phone division.

Net profits rose nearly 12 per cent to 1.9 billion dollars, or 66 cents per share, despite a decline in traditional land-line phone service, the company said in New York.

Revenue rose 4 per cent to 24.1 billion dollars in the April-to- June period.

Verizon gained 1.5 million new mobile phone customers in the quarter, up 11 per cent to 68.7 million total users. Market leader AT&T has 73 million mobile customers. (dpa)

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