Verizon Communications (NYSE: VZ) reported third quarter earnings today of $1.67 billion or $0.59 diluted earnings per share on $24.7 billion in revenue. Net income was up 31 percent. Adjusted earnings per share was $0.66. Revenue was up 4.1 percent year on year, just above a poll of analysts by Thomson Reuters which had forecast revenue of $24.5 billion. The second largest telecommunications company behind AT&T (NYSE: T) wireless unit posted better than expected earnings—especially in light of AT&T’s boost from the iPhone—but the wireline business is still falling.

SEE ALSO: Earnings: Verizon Revenue Misses Expectations; Wireless Data Revenue Jumps 45.3 Percent

Wireline Highlights
— Wireline operating revenues down: Wireline total operating revenues were $12.2 billion, 1.7 percent down compared with the third quarter 2007. Wireline data revenues which now represent 42.9 percent of total Wireline revenues—were $5.2 billion, an increase of 14.6 percent compared with the third quarter 2007.  This includes revenues from consumer broadband services, wholesale data transport and Verizon Business data services.

— FiOS TV/ FiOS Internet: Verizon reported 233,000 net new FiOS TV customers and 225,000 net new FiOS Internet customers. The company now has 1.6 million FIOS TV customers and 2.2 million FiOS Internet customers.

— Consumer ARPU up: Consumer ARPU in legacy telecom markets was up 12.8 percent to $66.67. Consumer revenue was up 2.1 percent to $3.8 billion, while consumer broadband and video revenues grew 45 percent to $1.1 billion.

More wireless details on mocoNews.net.