Fortune 500 rank: 13 (Previous rank: 18)
2006 Revenues (millions): $93,221
Headquarters: New York, NY
Get quote: VZ
Restructuring costs resulting from efforts to compete as a provider of both cable television and Internet services, as well as a $23 billion expenditure on fiber-optic cable, have cost the telecom dearly. Profits dipped 16% from last year. But the company still managed to jump five spots on the list thanks to 24% revenue growth driven by new wireless subscribers.
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