Verizon profit dips

Verizon Communications posted on Monday a third-quarter dip in profits, though the company's wireless business showed strong results.

The carrier's overall profits were hurt by the continued decline of its wireline business. But the company is making up for much of the loss with wireless.
That said, Verizon did not add as many customers in the third quarter as AT&T, which had a stellar quarter due to strong sales of the Apple iPhone. Verizon is hoping to pick up ground through its broad partnership with Google announced earlier this month. In addition, Verizon is adding Research In Motion's new Storm 2 to its lineup.
Verizon reported third-quarter net income of $2.88 billion, or 41 cents a share, on revenue of $27.3 billion. Excluding charges, per share earnings fell to 60 cents from 66 cents last year, but the company beat analyst estimates of 59 cents per share.