Verizon adds 26,000 FiOS Video connections in 2Q 2015

Tuesday, July 21st, 2015
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NEW YORK — Reporting second-quarter 2015 results today, Verizon Communications Inc. (NYSE, Nasdaq: VZ) announced double-digit percentage growth in year-over-year quarterly earnings on an adjusted basis (non-GAAP) and continued strong cash flows.

Wireline

In second-quarter 2015, Verizon added 72,000 net new FiOS Internet connections and 26,000 net new FiOS Video connections. Verizon had totals of 6.8 million FiOS Internet and 5.8 million FiOS Video connections at the end of the second quarter, representing year-over-year increases of 8.1 percent and 6.4 percent, respectively.

Verizon saw higher-than-anticipated demand for its new Custom TV packages, with more than one-third of FiOS Video gross customer additions opting for Custom TV and migration demand from existing customers. While Custom TV adoption has an initial negative impact on revenue growth, it is expected to improve profitability.

FiOS Video Subscribers (‘000)

                                       2014          2015
                 --------------------------  ------------
                    1Q     2Q     3Q     4Q     1Q     2Q
                 -----  -----  -----  -----  -----  -----
Connections      5,319  5,419  5,533  5,649  5,739  5,765
Net Adds            57    100    114    116     90     26