Industry: Communications Services
Fortune Rank: 13
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.
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.
Verizon Communications is a Fortune 500 company. In 2010 Verizon Communications was ranked number 13 on the Fortune 500 list, making it the 13th largest company in the United States when judged by revenue.
Verizon Communications achieved revenue of $107,808.00 million in 2010 and earned a profit of $3,651.00 million.
Verizon Communications' rank improves
The company ranking improved in 2010, moving up the Fortune 500 list to 13th compared to 17th in 2009. This was based on its 2009 revenue of $97,354 million (a change of 10 million compared to 2010) and profits of $6,428 million (a change of $-3 million compared to 2009).
Another point of view
To many investors, profits are more important than the revenue a company earns. If the Fortune 500 was ranked by profits instead of revenue then Verizon Communications would be ranked 38th rather than 13th due to its profits of $3,651 in 2010.
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* US$ Million
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