Verizon FIOS video subscribers down 41,000 in 2Q 2016
Tuesday, July 26th, 2016NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported second-quarter earnings reflecting strong profitability and customer retention at Verizon Wireless, a repositioning of the wireline network footprint and cost structure, and scaling of new growth markets in mobile video and the Internet of Things (IoT).
Wireline
Total revenues for Fios fiber-optic-based services grew 3.7 percent, to $2.8 billion, comparing second-quarter 2016 with second-quarter 2015. The work stoppage impacted Fios connection growth, resulting in net declines of 13,000 Fios internet connections and 41,000 Fios video connections in second-quarter 2016. Verizon made significant progress in working through a backlog of Fios installations in June and has since returned to its normal run rate of Fios connection growth.
FiOS Video Subscribers (‘000)
2014 2015 2016 ------------ -------------------------- ------------ 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q ----- ----- ----- ----- ----- ----- ----- ----- Connections 4,352 4,453 4,535 4,565 4,610 4,635 4,678 4,637 Net Adds 100 101 82 30 45 25 43 (41)
From 1Q 2016 results: FiOS Video Subscribers (‘000)
2014 2015 2016 ------------ -------------------------- ----- 3Q 4Q 1Q 2Q 3Q 4Q 1Q ----- ----- ----- ----- ----- ----- ----- Connections 5,533 5,649 5,739 5,765 5,807 5,827 5,863 Net Adds 114 116 90 26 42 20 36
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