Verizon Communications
Industry: Communications Services

Verizon Communications (NYSE: VZ) is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with 132.1 million access line equivalents and 29.4 million wireless customers. Verizon is also the largest directory publisher in the world. A Fortune 10 company with more than $67 billion in annual revenues and approximately 247,000 employees, Verizon's global presence extends to more than 40 countries in the Americas, Europe, Asia and the Pacific.

Business Summary
Verizon Communications Inc. (Verizon) is a provider of communications services with four operating segments: Domestic Telecom, Domestic Wireless, Information Services and International. Domestic Telecom services principally represent Verizon's telephone operations that provide local telephone services in 29 states and Washington D.C. Domestic Wireless products and services include wireless voice and data services and equipment sales across the United States. The Information Services segment encompasses the Company's directory publishing businesses, including print directories and SuperPages.com online search services, as well as Website creation and other electronic commerce services. The International segment has wireline and wireless communications operations and investments, primarily in the Americas, as well as investments in Europe. Verizon purchased Qwest Wireless, LLC's spectrum licenses and wireless network assets on March 4, 2005.

Financial Summary
Verizon is engaged in the provision of communications services, primarily wireline and wireless communications in the Americas, Europe, Asia and the Pacific. For the 6 months ended 6/30/05, revenues rose 6% to $36.75B. Net income from cont. ops. rose 31% to $3.87B. Revenues reflect an increase in Domestic Wireless income. Higher net income reflects the absence of pension settlement losses.