Verizon and AT&T report growth for the fourth quarter

Version Wireless and AT&T, the largest mobile phone operators in the United States, reported growth for the fourth quarter of 2005, which is mainly due to their wireless services. Analysts predict that this growth will continue in the future as they begin offering more services such as mobile TV, music downloads and high-speed Internet connectivity.

Verizon Wireless managed to attract 2 million new wireless subscribers during the fourth quarter, reaching 51.3 million subscribers in total. That is 21 percent more in comparison with the same period of the year 2004. Verizon Wireless also contributed for the increased total revenue of $19.3 billion (5.8 percent more, compared to the fourth quarter of 2004), bringing $8.7 billion.

AT&T, which owns 60 percent of Cingular Wireless, increased the number of its wireless subscribers with 1.8 million during the fourth quarter of 2005. Revenue grew with 24 percent in comparison with the same period of 2004, reaching $8.85 billion.

Source: C/Net News.com