This excerpt taken from the VZ 8-K filed Jul 28, 2008.
Investments Delivering New Growth
Verizon continued to grow in all key strategic areas in the second quarter, despite the economic headwinds, said Verizon Chairman and CEO Ivan Seidenberg. Recent investments in wireless spectrum and in our FiOS network will help drive future growth opportunities. We expect additional opportunities for FiOS growth as we add major cities, such as New York.
Our second quarter results were on track with our business plan, and top- and bottom-line growth remained solid, he said. We remain focused on steady improvements in revenue growth and productivity that will increase profitability and cash flows and create future opportunities to enhance shareholder returns.
Verizon News Release, page 3