Verizon FiOS Video net additions slow to 92,000 in 4Q 2013

15.6 percent year-over-year increase in FiOS revenues; 126,000 FiOS Internet and 92,000 FiOS Video net additions, with continued increased sales penetration for both services

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported another strong quarter of earnings, revenue and cash-flow growth.

Wireline

In fourth-quarter 2013, Verizon added 126,000 net new FiOS Internet connections and 92,000 net new FiOS Video connections. Verizon had a total of 6.1 million FiOS Internet and 5.3 million FiOS Video connections at year-end 2013, representing year-over-year increases of 11.9 percent and 11.3 percent, respectively.

FiOS penetration (subscribers as a percentage of potential subscribers) continued to increase. FiOS Internet penetration was 39.5 percent at the end of fourth-quarter 2013, compared with 37.3 percent at the end of fourth-quarter 2012. In the same periods, FiOS Video penetration was 35.0 percent, compared with 33.3 percent. The FiOS network passed 18.6 million premises by year-end 2013.

                                               2012                        2013
                         --------------------------  --------------------------
                            1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q
                         -----  -----  -----  -----  -----  -----  -----  -----
FiOS Video Subscribers
  Connections ('000)     4,353  4,473  4,592  4,726  4,895  5,035  5,170  5,262
  Net Add Detail ('000)    180    120    119    134    169    140    135     92
FiOS Video penetration   32.3%  32.6%  32.9%  33.3%  34.1%  34.5%  34.9%  35.0%