Verizon Reports a 21 Percent Drop in Profits – Plans to Offer Palm Pre

Posted Jul 27, 2009

Verizon has reported a 21 percent drop in its 2Q profits. The drop was fueled by pension expenses and a decline in the company’s enterprise business. Verizon, which has more than 235,000 employees, said it will cut 8,000 jobs this year.

The company added 1.1 million mobile subscribers. It now has a total of 87.7 million subscribers. It also added 300,000 customers to its high speed fiber optic service. It now has 2.5 million FIOS TV customers and 3.1 million FIOS Internet customers.

Verizon also confirmed today that they plan to carry the Palm Pre early next year. The Pre has a six-month exclusive contract with Sprint. Verizon will likely carry the Pre when Sprint’s exclusivity ends.