Verizon's third quarter financials are holding steady and "on track". Their revenues were up by 5.4% for a total of $27.9 Billion. Most of that modest growth came from their acquiring882,000 new retail postpaid connections. Their total operating expenses were $23.3 billion, which was an increase of 0.7 percent. I am sure stockholders are happy to see that Verizon's revenue increases were over 5 times higher than their expenses increases, and that they are actually posting a profit during this recessionary economy.
Source: Verizon Q3 2011 Financials Results - Full Press Release