Business

Verizon 1Q profit surges on Vodafone-related gains

By Bree Fowler
Published April 24, 2014 2:31pm ET
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Verizon 1Q profit surges on Vodafone-related gains
FILE - In this June 6, 2013, file photo, pedestrians pass a Verizon Wireless store on Canal Street in New York. Verizon reports quarterly earnings on Thursday, April 24, 2014. (AP Photo/John Minchillo, File) | John Minchillo

NEW YORK (AP) — Verizon’s $130 billion deal to take over of all of Verizon Wireless is helping lift its profit.

The largest U.S. cellphone carrier on Thursday posted a 23 percent profit increase in its first quarter, during which it completed the acquisition of the 45 percent stake in its wireless division from British cellphone carrier Vodafone Group PLC.

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