Verizon FIOS consumer video subscribers down 61,000 in 3Q 2020
Wednesday, October 21st, 2020NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported strong third-quarter results today and revised earnings guidance upward for the year. The company’s performance was highlighted by increases in wireless service revenue and total Fios Internet net additions.
Consumer results
Consumer reported 139,000 Fios Internet net additions in third-quarter 2020, an increase from 30,000 Fios Internet net additions in third-quarter 2019. Consumer and Business reported 144,000 total Fios Internet net additions, the most Fios Internet net additions since fourth-quarter 2014. Consumer reported 61,000 Fios Video net losses in third-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 3Q ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- Consumer Connections 4,487 4,423 4,377 4,322 4,270 4,203 4,152 4,068 3,987 3,926 Net Adds (38) (64) (46) (55) (52) (67) (51) (84) (81) (61) Business Connections 73 74 74 76 76 77 77 77 75 74 Net Adds 1 1 - 2 - 1 - - (2) (1) Total Connections 4,560 4,497 4,451 4,398 4,346 4,280 4,229 4,145 4,062 4,000 Net Adds (37) (63) (46) (53) (52) (66) (51) (84) (83) (62)
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