Verizon Reports $3.9 Billion Profit While NY Sues Sprint

Verizon is reporting a tidy profit this quarter that have exceeded some analyst expectations. The company made a $3.9 billion profit, compared to $3.56 billion last year. Verizon also revealed it took on a little over half a million new subscribers this quarter, thanks to starting sales of Apple's iPhone on its network. Meanwhile, fellow carrier Sprint is being sued by the state of New York for tax fraud stretching over 7 years, which could cost Sprint over $300 million, and allow Sprint customers to quit the network without paying a termination fee.

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