Verizon's net income rises, largely based on new tax estimates. Verizon Communications reported revenue of US$27 billion for the first quarter of 2011, up 0.3 percent from a year earlier, with the company pointing to growth in mobile customers as a cause for optimism.Verizon’s net income rose sharply from $2.3 billion in the first quarter of 2010 to $3.3 billion in the first quarter of this year, but Verizon also dropped its income tax estimate by more than $1 billion between the two quarters. Verizon reported a one-time tax charge of $1 billion in the first quarter of 2010 related to changes from a new U.S. health care law.Earnings per share were $0.51, meeting the expectations of analysts polled by Thomson Reuters.The earnings from 2010 included revenue from operations that the company has since sold. Revenue increased by 5.3 percent on a comparable basis. Verizon showed “sustainable, profitable growth” during the quarter, Chairman and CEO Ivan Seidenberg said in a statement.Verizon’s mobile division helped drive that growth, the company said. Mobile service revenue was up 6.3 percent and mobile data revenue up 22.3 percent from 2010. Verizon Wireless, which launched Apple’s iPhone on its network during the quarter, added 1.8 million customers since the beginning of the year. The company now has 104 million total mobile connections, including 88.4 million retail customers. Verizon’s mobile revenue rose 10.2 percent, to $16.9 billion.On the wireline side of Verizon’s business, revenue dropped 2.2 percent to $10.1 billion. Verizon added 207,000 Fios broadband customers and 192,000 Fios television customers during the quarter. The company now has 4.3 million Fios broadband and 3.7 million Fios TV customers.After accounting for lower DSL customer numbers, Verizon added 98,000 broadband customers during the quarter. The company has 8.5 million broadband customers, including DSL and Fios.Verizon’s wireline division has dropped 16,000 workers, primarily through incentive buyouts, in the past year. The wireline division now has 92,000 employees.Grant Gross covers technology and telecom policy in the U.S. government for The IDG News Service. Follow Grant on Twitter at GrantGross. Grant’s e-mail address is grant_gross@idg.com. Related content news Chinese state actors behind espionage attacks on Southeast Asian government The distinct groups of activities formed three different clusters, each attributed to a specific APT group. By Shweta Sharma Sep 25, 2023 4 mins Advanced Persistent Threats Advanced Persistent Threats Cyberattacks feature How to pick the best endpoint detection and response solution EDR software has emerged as one of the preeminent tools in the CISO’s arsenal. Here’s what to look for and what to avoid when choosing EDR software. By Linda Rosencrance Sep 25, 2023 10 mins Intrusion Detection Software Security Monitoring Software Data and Information Security feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Data and Information Security IT Leadership brandpost Unmasking ransomware threat clusters: Why it matters to defenders Similar patterns of behavior among ransomware treat groups can help security teams better understand and prepare for attacks By Joan Goodchild Sep 21, 2023 3 mins Cybercrime Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe