Verizon FIOS video subscribers down 81,000 in 2Q 2020
Friday, July 24th, 2020NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported second-quarter results today highlighted by increased cash flow and strong momentum heading into the second half of the year.
Consumer
Consumer reported 10,000 Fios Internet net additions as Fios installations were limited during the quarter due to temporary restrictions put in place on work inside customers’ homes. Consumer reported 81,000 Fios Video net losses in second-quarter 2020, reflecting the ongoing shift from traditional linear video to over-the-top offerings.
Fios Video Connections (‘000):
2018 2019 2020 ------------------- -------------------------- ------------ 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q ----- ----- ----- ----- ----- ----- ----- ----- ----- Consumer Connections 4,487 4,423 4,377 4,322 4,270 4,203 4,152 4,068 3,987 Net Adds (38) (64) (46) (55) (52) (67) (51) (84) (81) Business Connections 73 74 74 76 76 77 77 77 75 Net Adds 1 1 - 2 - 1 - - (2) Total Connections 4,560 4,497 4,451 4,398 4,346 4,280 4,229 4,145 4,062 Net Adds (37) (63) (46) (53) (52) (66) (51) (84) (83)
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