Verizon Reports Increase In Q2 Profits

New York (dBTechno) - Verizon Communications Inc, the second largest US telecoms firm behind AT&T Inc, reported a 4.5-per-cent rise in second quarter profits on Monday, while its wireless unit announced the acquisition of Rural Cellular Corp.

Net income climbed to 1.68 billion dollars from 1.61 billion dollars in the second quarter of 2006, thanks to strong sales from its wireless, internet and television divisions. Revenue was up 6.3 per cent to 23.3 billion dollars, the New York-based company said.

Verizon Wireless - co-owned with Britain’s Vodafone Group Plc - said it would buy Rural Cellular for 757 million dollars, adding 716,000 extra subscribers and bolstering its presence in less- populated areas of the United States.