If you thought the overused corporate buzzword "multitasking" had long been put to rest, think again. Telecommunications giant Verizon Communications
On the earnings front, the company again turned in another solid quarter, led by strength in wireless and broadband business units. Overall, revenue was up 6% to $23.3 billion, with profits of $1.7 billion, or $0.58 per share. Wireless revenues jumped 17% from the year-ago quarter, with subscribers spending more on voice, text, and media. And broadband connections increased 26%, as more consumers signed up for lightening-fast Internet connections thanks to Verizon's new fiber optic network.
The wireless portion of Verizon's business that the company shares with Vodafone
As if earnings from a telco giant were not enough to digest in one day, Verizon decided to make public its intentions to acquire rural wireless carrier Rural Cellular
Taken together, both announcements bode well for Verizon's future. If the company can successfully integrate Rural Cellular while maintaining its current performance, shareholders should be more than happy.
More Foolish yappity-yap:
- Prepare For a Gruesome Retirement
- Foolish Forecast: Verizon's Long Shot
- Wireless Smackdown: Comparing Carrier's ARPU
Fool contributor Dave Mock can multitask by walking and chewing gum at the same time. He owns no shares of companies mentioned here. He is the author of The Qualcomm Equation. The Fool's disclosure policy is twice as nice no matter what the price -- which is free.
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