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Verizon meets views on flat sales
The No. 1 local phone company earned 63 cents a share ex-items, 12.5% below last year. Sales slid 0.9% to $16.3 bil, a touch light, as more local phone defections offset long-distance, DSL and wireless gains. Verizon added 710,000 long-distance customers for a total of 13.2 mil. Long-distance revenue rose 14.3% to $881 mil. And it added 160,000 DSL lines, a key growth area, for a total of 1.83 mil.
** Verizon Wireless, its joint venture with the U.K.'s Vodafone, boosted sales and operating cash flow 15% as it drew customers from rivals, cut turnover and got more money per customer.
** Ex-WorldCom …