Verizon Reports Strong Earnings On iPhone Contracts

NEW YORK, NY – APRIL 19: A pedestrian talks on a cellular phone as she walks by a Verizon Wireless store on April 19, 2012 in New York City. With strong holiday sales of the iPhone 4GS and a surge in customer billing Verizon reported first quarter earnings of $1.69 billion, or 59 cents per share compared to $1.44 billion, or 51 cents per share one year ago. (Photo by Justin Sullivan/Getty Images)