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Verizon Drops Despite Wireless Profits

Overall, Verizon reported a 4.7% year-over year increase in consumer revenues from its wireline business. Average revenues per user (ARPU) were up 9.4% to $109.67.

During this morning's conference call, Verizon said it will join rivals T-Mobile (TMUS - Get Report) and AT&T (T - Get Report) in providing installment plans to aid subscribers who wish to upgrade their phones more often that once every two years. Verizon's CFO, Fran Shammo announced the new Verizon Edge plan but gave no further details.

Verizon could disclose more at next week's planned press conference in New York - rumored to feature the next generation of Motorola (GOOG - Get Report) Android models.

--Written by Gary Krakow in New York.

>To submit a news tip, send an email to:
Gary Krakow is TheStreet's senior technology correspondent.
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