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. Verizon Wireless attracted 720,000 net new subscribers during the period.

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CNET, Reuters

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