Wallstreet didn't seem too inspired by Verizon Communications Inc. (VZ) despite the dazzling third quarter that Verizon Wireless brought in.
That would have to do with the worries about the wired side of Verizon, where losses of traditional phone customers have increased, profit margins have decreased, and costs from a "bet the company" push into cable TV rose according to this NYTimes.com article. Costs include replacing copper wires with fiber-optic lines that will provide TV and faster Internet access.
Net income rose slightly to $1.92 billion even though stocks went down by 3 percent. Residential and business phone line customer losses have exceeded expectations and are down 7.5 percent from last year.
Read more about this here.
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