Verizon [3] is reporting [4] a tidy profit this quarter that have exceeded some analyst expectations [5]. 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 [6] 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.

To read news items as they develop watch for more Fast Feed stories during the day, by clicking here [7].