Verizon Communications said Tuesday that first-quarter revenue increased on strong wireless sales, but saw earnings dip due to merger costs.Net income in the quarter ending March 31 fell 7 percent to US$1.6 billion, or $0.56 per share, from $1.8 billion, or $0.63 per share, in the same quarter last year. The first-quarter earnings reflect fees for special items, including merger costs, of $0.04 per share. Merger integration costs totaled $55 million. Excluding costs, Verizon’s earnings per share were $0.60, edging out the average forecast of analysts polled by Thomson Financial, who expected earnings per share of $0.59. Net revenue soared 25 percent to $22.7 billion from $18.2 billion a year earlier due to its wireless business and the acquisition of MCI, which closed in January. Verizon Wireless posted a 19 percent hike in first-quarter revenue to $8.8 billion. It was the 15th consecutive quarter of double-digit, year-over-year revenue growth.The unit added 1.7 million customers in the first quarter, bringing its total to 53 million. Verizon Wireless is a joint venture with Vodafone Group.In the wireline segment, revenue was up 33 percent to $12.5 billion due in large part to the addition of MCI’s fixed-line business, which serves mostly large corporate customers.Verizon said the integration of MCI is on track. Of the 3,500 job reductions planned this year, more than one-third were achieved in the first quarter. The company aims to reduce operating expenses by $550 million by cutting redundant processes and positions.-John Blau, IDG News ServiceCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content feature 4 remedies to avoid cloud app migration headaches The compelling benefits of using proprietary cloud-native services come at a price: vendor lock-in. Here are ways CIOs can effectively plan without getting stuck. By Robert Mitchell Nov 29, 2023 9 mins CIO Managed Service Providers Managed IT Services case study Steps Gerresheimer takes to transform its IT CIO Zafer Nalbant explains what the medical packaging manufacturer does to modernize its IT through AI, automation, and hybrid cloud. By Jens Dose Nov 29, 2023 6 mins CIO SAP ServiceNow feature Per Scholas redefines IT hiring by diversifying the IT talent pipeline What started as a technology reclamation nonprofit has since transformed into a robust, tuition-free training program that seeks to redefine how companies fill tech skills gaps with rising talent. By Sarah K. White Nov 29, 2023 11 mins Diversity and Inclusion Hiring news Saudi Arabia will host the World Expo in 2030 in Riyadh By Andrea Benito Nov 28, 2023 3 mins CIO Artificial Intelligence 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