Verizon Communications posted a strong first-quarter profit, up 16% on the growth of its wireless customer base. Verizon earned $1.95 billion, and revenue was up 4.2% to $29.42 billion. Verizon's Wireless unit showed a 6.8% increase, generating $19.5 billion in revenue. On the wireline side, revenue came in at $3.6 billion. The FiOS TV business ended the period with 4.9 million customers, after attracting 169,000 net new subscribers in the quarter.

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CNET, Reuters

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