Verizon FIOS video subscribers down 37,000 in 2Q 2018

Verizon ends first-half 2018 with strong operating results

NEW YORK – Strong revenue momentum and operating results at Verizon Wireless highlighted second-quarter 2018 performance at Verizon Communications Inc. (NYSE, Nasdaq: VZ), which today reported EPS of $1.00 for the quarter.

Wireline

In second-quarter 2018, Verizon added a net of 43,000 Fios Internet connections, indicative of strong demand as customers value broadband connections more than ever. Verizon lost 37,000 Fios Video connections in second-quarter 2018 amid pressures from cord-cutting of video bundles.

Fios Video Connections

                                       2016                        2017          2018
                 --------------------------  --------------------------  ------------
                    1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q     2Q
                 -----  -----  -----  -----  -----  -----  -----  -----  -----  -----
Total ('000)     4,678  4,637  4,673  4,694  4,681  4,666  4,648  4,619  4,597  4,560
Net Adds ('000)     43   (41)     36     21   (13)   (15)   (18)   (29)   (22)   (37)