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 NEW YORK (AP) - Verizon Communications Inc. earned $1.76 billion in the first quarter, surpassing expectations as Verizon Wireless improved on its already industry-leading performance and the DSL business posted its fastest growth yet.
The company declined after Wednesday's report to provide any comment regarding its next move in a tense bidding war to acquire long-distance carrier MCI Inc., which over the weekend embraced a $9.75 billion offer from Qwest Communications International Inc.
Executives refused to say whether Verizon will act by a Friday deadline to improve on its $7.5 billion deal with MCI or possibly walk away from the three-month affair. Analysts and investors widely expect that Verizon will offer more, though again not as much as Qwest has bid.
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