Verizon Reports Strong 1Q 2007 Results

Continued Strong Wireless Performance and Improvements in the Wireline Consumer and Large-Business Markets
Operating Income Increases as Wireless, Broadband, Video and Strategic Services Growth Accelerates

NEW YORK — Verizon Communications Inc. (NYSE:VZ) today reported strong, profitable first-quarter 2007 revenue growth, supported by industry-leading retail customer growth at Verizon Wireless and strong sales of broadband services, including video.

Strong Demand for FiOS TV

Verizon Telecom added a net of 141,000 new FiOS TV customers in the first quarter 2007. Verizon served 348,000 FiOS TV customers as of the end of the quarter, and this growth is accelerating. The company averaged approximately 2,200 FiOS TV net customer additions per business day in the first quarter 2007, about 750 more net additions per business day than the fourth-quarter 2006 average.

Complementing the FiOS TV rollout, Verizon now serves 618,000 satellite TV customers in partnership with DIRECTV, for a total approaching 1 million video customers nationwide.