Verizon adds 174,000 FiOS TV customers in 2Q10

Friday, July 23rd, 2010
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NEW YORK — For second-quarter 2010, Verizon Communications Inc. (NYSE, NASDAQ: VZ) reported continued strong cash flow growth, coupled with improved margins for both its Wireless and Wireline business segments, and improved revenue trends for sales to global business customers.

Wireline Growth in Consumer and Enterprise Markets

Verizon continued to add customers for broadband and video services provided over its FiOS fiber-optic network, and revenues increased for advanced communications and related business services provided over Verizon’s global IP (Internet protocol) network. In the second quarter of 2010:

Verizon added 196,000 net new FiOS Internet customers and 174,000 net new FiOS TV customers. Verizon has posted consecutive quarterly gains in the number of customers using FiOS services since FiOS Internet was introduced in 2004, and by the end of the second quarter had 3.8 million FiOS Internet and 3.2 million FiOS TV customers.

FiOS TV penetration was 25.9 percent by the end of the quarter, with the product available for sale to 12.4 million premises. This compares with 24.6 percent and 10.3 million, respectively, at the end of second-quarter 2009.

FiOS TV Subscribers (000):

                                     2008                        2009          2010
               --------------------------  --------------------------  ------------
               1st Q  2nd Q  3rd Q  4th Q  1st Q  2nd Q  3rd Q  4th Q  1st Q  2nd Q
               -----  -----  -----  -----  -----  -----  -----  -----  -----  -----
Quarter End    1,206  1,382  1,615  1,918  2,217  2,517  2,708  2,861  3,029  3,203
Quarter Adds     263    176    233    303    299    300    191    153    168    174

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