Verizon Communications report improved profits

Verizon Communications report improved profits

Verizon Communications has announced that their profits improved in the recent quarter.

The company reported stronger-than-expected growth in terms of wireless subscribers.

However their home-phone business is suffering as more and more people are going mobile replacing their landline phones.

The company said that their first-quarter profit rose to $1.6 billion. This is a better performance compared to profits of $1.5 billion in the same period last year.

This performance is indeed impressive considering the company launched a new $99 unlimited wireless calling plan which the experts said would drain down their profits.