wireless business

Despite the economic meltdown, Verizon Communications saw big gains in profits in the third quarter due to its wireless business.

Verizon’s third quarter results were in line with Wall Street estimates courtesy of a solid performance in the telecom giant’s wireless business.

But wireless churn was up as the company did take a hit due to the popularity of the iPhone.

Here are today’s notable headlines.

Verizon topped its second quarter targets Monday courtesy of a strong wireless business and executives said demand is holding up despite economic concerns.

The telecom giant reported second quarter earnings of 66 cents a share and 67 cents a share excluding integration costs.

Wall Street was expecting earnings of 65 cents a share.

Qwest Communications International needs wireless--badly.

This, of course, isn't exactly a revelation to anyone who's been following the descent and now-rebound of the nation's third-largest telecommunications company.

But as Qwest continues to get back on track, that lack of a wireless business could prove vexing.

On Monday, ...