Nortel's earnings are down, but VoIP is looking up

Looks like Nortel's plugging away in the face of adversity payed off a little. The company may not have posted the brightest Q3 earnings report, but its VoIP results looked good.

Nortel managed to narrow its ongoing losses from $3.41 billion in Q3 2008 to $508 million in Q3 2009. But it reported that revenue declined from $1.6 billion in Q3 08 to $1.05 billion.

The highlight of Nortel's latest earnings report really was the VoIP division, though. Amongst the doom and gloom, Nortel's Carrier VoIP and Applications Solutions (CVAS) unit saw its revenues increase. "CVAS revenues in the third quarter of 2009 were $208 million, an increase of 14 percent compared with the year ago quarter due to contract deliveries and project completions in the third quarter of 2009," Nortel claimed in its earnings release.

So the rise in VoIP revenue was due to closing up various projects it was already working on, but revenue was still up, right?

For more:
- see the official company release here

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