Verizon To Report Q3 Results

In the preceding second quarter, Verizon, the second largest U.S. telephone company, reported a net loss of $198 million or $0.07 per share, with revenues totaling $26.77 billion. The quarterly loss was due to charges related to layoffs and divestitures.

The Wall Street Journal reported earlier this month that iPhone maker Apple Inc. (AAPL: News ) plans to begin selling its new iPhone through Verizon Wireless early next year. AT&T, Inc. (T: News ), Verizon's archrival in the wireless business, has been the sole carrier for iPhone in the U.S. ever since Apple released the first model in 2007.

The new iPhone model is said to be similar in design to the iPhone 4 currently sold by AT&T, but would be based on the CDMA technology used by Verizon. This shift could help Verizon to remain No.1 in subscriber base and open up new revenue streams in the Wireless business, which is nearing a saturation point in several markets. The U.S. wireless sector is estimated to have a penetration rate of over 75% with over 200 million subscribers.

Meanwhile, in order to boost its wireline business segment, which is experiencing challenges from new technologies including Voice over Internet Protocol (VoIP), Verizon is offering FiOS, the Fiber-to-the-Home (FTTH) service. Verizon FiOS is considered as the largest fiber optic network in the U.S.