Verizon adds 191,000 FiOS TV customers in 3Q09

Monday, October 26th, 2009
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Verizon Communications Inc. (NYSE:VZ) generated strong and improved cash flow in the third quarter 2009, with continued revenue and customer growth in wireless and broadband markets.

Continued Growth in Consumer Broadband and Video

In addition to strong Wireless results, Verizon posted another quarter of gains in the number of customers using fiber-optic-based FiOS Internet and FiOS TV services. In consumer markets served by Verizon’s wireline network, increased revenues from broadband and video services helped produce overall revenue growth, as well as ARPU growth. In the third quarter:

  • Verizon added 198,000 net new FiOS Internet customers. The company served 3.3 million FiOS Internet customers by the end of the quarter, a 49.2 percent year-over-year increase.
  • FiOS Internet penetration (customers as a percentage of potential customers) increased to 28.5 percent by the end of the third quarter, with the product available for sale to 11.5 million premises. This compares with a 24.2 percent penetration at the end of the third quarter 2008.
  • Verizon also added 191,000 net new FiOS TV customers. The company served 2.7 million FiOS TV customers by the end of the quarter, a 67.7 percent year-over-year increase.
  • FiOS TV penetration increased to 24.9 percent by the end of the third quarter, with the product available for sale to 10.9 million premises. This compares with a 19.7 percent penetration at the end of the third quarter 2008.

FiOS TV Subscribers (000):

                                     2008                 2009
               --------------------------  -------------------
               1st Q  2nd Q  3rd Q  4th Q  1st Q  2nd Q  3rd Q
               -----  -----  -----  -----  -----  -----  -----
Quarter End    1,206  1,382  1,615  1,918  2,217  2,517  2,708
Quarter Adds     263    176    233    303    299    300    191

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