Verizon sees earnings leap

AMERICAN telecoms operator Verizon yesterday reported that its profits rose by 19 per cent in the second quarter of the year, thanks to a huge rise in mobile data revenues.

Income rose to $4.28bn (£2.72bn) on a 3.7 per cent rise in sales to $28.6bn, largely driven by the firm’s mobile network Verizon Wireless. Data sales now make up almost half of the mobile arm’s turnover.

Verizon’s chief financial officer Fran Shammo said: “Wireless is firing on all cylinders.”