Verizon adds 114,000 video subscribers in 3Q 2014

13.4 percent year-over-year increase in FiOS revenues; 162,000 FiOS Internet and 114,000 FiOS Video net additions

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported double-digit year-over-year percentage growth in reported and adjusted earnings per share for the 10th time in the past 11 quarters.

Wireline

In third-quarter 2014, Verizon added 162,000 net new FiOS Internet connections and 114,000 net new FiOS Video connections. Verizon had totals of 6.5 million FiOS Internet and 5.5 million FiOS Video connections at the end of the third quarter, representing year-over-year increases of 8.8 percent and 7.0 percent, respectively.

FiOS Internet penetration (subscribers as a percentage of potential subscribers) was 40.6 percent at the end of third-quarter 2014, compared with 39.2 percent at the end of third-quarter 2013. In the same periods, FiOS Video penetration was 35.5 percent, compared with 34.9 percent. The FiOS network passed 19.7 million premises by the end of third-quarter 2014.

Wireline – FiOS Video Subscribers (‘000)

                  2012                        2013                 2014
                 -----  --------------------------  -------------------
                    4Q     1Q     2Q     3Q     4Q     1Q     2Q     3Q
                 -----  -----  -----  -----  -----  -----  -----  -----
Connections      4,726  4,895  5,035  5,170  5,262  5,319  5,419  5,533
Net Adds           134    169    140    135     92     57    100    114