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VZ » Topics » Strong Consolidated Results

This excerpt taken from the VZ 8-K filed Oct 29, 2007.

Strong Consolidated Results

Verizon’s total operating revenues grew 5.8 percent to $23.8 billion, compared with the third quarter 2006. Operating revenues grew 6.0 percent on an adjusted basis (non-GAAP). Verizon’s total operating expenses increased 3.4 percent to $19.6 billion, compared with the third quarter 2006. Operating expenses increased 3.5 percent on an adjusted basis (non-GAAP).

On a reported basis, Verizon’s operating income grew 19.0 percent to $4.2 billion, compared with the third quarter 2006. On an adjusted basis, operating income grew 18.5 percent to $4.3 billion.

Operating income margin rose to 17.7 percent, compared with 15.7 percent in the third quarter 2006. On an adjusted basis, Verizon’s operating income margin rose to 18.1 percent, compared with 16.2 percent in the third quarter 2006.

Cash flows from continuing operations totaled $18.0 billion through the first nine months of 2007. This represents 5.0 percent growth over the same period last year.

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