Verizon escapes economic hard times, thanks again to wireless

Verizon reported another strong quarter, with little thanks to the few remaining landline customers. Verizon Communications, the 51% parent to Verizon Wireless, says its second quarter earnings were up 12%, reaching $1.88 billion, or 66 cents per share, from $1.68 billion, or 58 cents per share a year ago, even as more landline customers disconnected service. The company reported an 11.4% percent decline in residential landline customers, up from the 10.9% slide in the first quarter.

Read the rest of the quarterly highlights at CG.