Verizon Communications on Monday reported a 37% drop in fourth-quarter profit after divesting several businesses, but the phone company added 2.3 million net wireless subscribers during the last three months of 2006.
New York-based Verizon posted earnings of $1.03 billion, or 35 cents a share, down from a year-ago profit of $1.67 billion, or 59 cents a share.
The latest results include charges related to the sale of the company's assets in the Dominican Republic and costs stemming from spinning off its yellow-pages business.
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