NEW YORK-Verizon Wireless reported second-quarter results, the first quarter following the combination of the U.S. wireless assets of Bell Atlantic Corp., Vodafone AirTouch plc and GTE Corp.
Verizon revenues increased 19 percent, from $3.3 billion to $4 billion, for the second quarter, compared with the combined revenues of the individual companies for the second quarter of 1999, according to the company.
Excluding transition costs, operating income grew 21.8 percent to $442 million and operating cash flow rose 10.8 percent to $1.3 billion, with operating cash flow margin of 38.8 percent.
Verizon also reported that of the approximately 800,000 new customers it added during the second quarter, 37.5 percent signed up for one of the company’s national SingleRate plans.
