Verizon adds 36,000 FIOS video subscribers in 1Q 2016

Thursday, April 21st, 2016
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NEW YORK — As Verizon Communications Inc. (NYSE, Nasdaq: VZ) continues to grow its customer base and gain revenues in new markets, the company today reported first-quarter 2016 earnings of $1.06 per share, an increase of 3.9 percent compared with first-quarter 2015.

Wireline

Verizon added 98,000 net new Fios internet connections and 36,000 net new Fios video connections in first-quarter 2016. Total Fios revenues grew 5.0 percent, to $3.5 billion, comparing first-quarter 2016 with first-quarter 2015, including consumer Fios revenue growth of 4.7 percent.

By the end of first-quarter 2016, about 78 percent of consumer Fios internet customers subscribed to data speeds of 50 megabits per second or higher. Customer demand remained strong for Custom TV, which represented about 38 percent of Fios video sales in the quarter.

FiOS Video Subscribers (‘000)

                                       2014                        2015   2016
                 --------------------------  --------------------------  -----
                    1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q
                 -----  -----  -----  -----  -----  -----  -----  -----  -----
Connections      5,319  5,419  5,533  5,649  5,739  5,765  5,807  5,827  5,863
Net Adds            57    100    114    116     90     26     42     20     36