Verizon FiOS Video net additions slow further to 57,000 in 1Q 2014

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported its fifth consecutive quarter of double-digit percentage growth in operating income and earnings per share.

Wireline

In first-quarter 2014, Verizon added 98,000 net new FiOS Internet connections and 57,000 net new FiOS Video connections. Verizon had totals of 6.2 million FiOS Internet and 5.3 million FiOS Video connections at the end of the first quarter, representing year-over-year increases of 9.9 percent and 8.7 percent, respectively.

FiOS Internet penetration (subscribers as a percentage of potential subscribers) was 39.7 percent at the end of first-quarter 2014, compared with 38.2 percent at the end of first-quarter 2013. In the same periods, FiOS Video penetration was 35.0 percent, compared with 34.1 percent. The FiOS network passed 18.9 million premises by the end of first-quarter 2014.

                                        2012                        2013   2014
                         -------------------  --------------------------  -----
                            2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q
                         -----  -----  -----  -----  -----  -----  -----  -----
FiOS Video Subscribers
  Connections ('000)     4,473  4,592  4,726  4,895  5,035  5,170  5,262  5,319
  Net Add Detail ('000)    120    119    134    169    140    135     92     57
FiOS Video penetration   32.6%  32.9%  33.3%  34.1%  34.5%  34.9%  35.0%  35.0%