Verizon’s Profit Rises 16 Percent as Margins Improve

Verizon Communications Inc.’s first-quarter net profit rose 16 percent as the addition of prepaid wireless subscribers helped to improve margins.

The largest U.S. phone carrier has seen its revenue growth improve in recent quarters as Verizon Wireless — its joint venture with Vodafone Group — launched shared-data pricing plans to better capitalize on increasing data usage. Meanwhile, Verizon’s wireline business has benefited from increased FiOS Internet and television subscriptions and expanded networking and cloud-computing services, mitigating the impact of a shrinking landline business.

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