Verizon FIOS video subscribers down 84,000 in 1Q 2020
Friday, April 24th, 2020NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported first-quarter results today highlighted by strong earnings per share performance, increased cash flow, and a further commitment to network investment.
Consumer
Consumer reported 59,000 Fios Internet net additions as work-from-home, in-home schooling, and other related measures increased the demand for high-quality broadband offerings. Consumer reported 84,000 Fios Video net losses in first-quarter 2020, reflecting the ongoing shift from traditional linear video to over-the-top offerings.
Fios Video Connections (‘000):
2018 2019 2020 -------------------------- -------------------------- ----- 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q ----- ----- ----- ----- ----- ----- ----- ----- ----- Consumer Connections 4,525 4,487 4,423 4,377 4,322 4,270 4,203 4,152 4,068 Net Adds (23) (38) (64) (46) (55) (52) (67) (51) (84) Business Connections 72 73 74 74 76 76 77 77 77 Net Adds 1 1 1 - 2 - 1 - - Total Connections 4,597 4,560 4,497 4,451 4,398 4,346 4,280 4,229 4,145 Net Adds (22) (37) (63) (46) (53) (52) (66) (51) (84)
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