Verizon FIOS video subscribers down 22,000 in 1Q 2018

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) today reported first-quarter 2018 results highlighted by consolidated revenue growth and strong Verizon Wireless customer loyalty.

Wireline

Total wireline revenues, excluding the impact of the revenue recognition standard, decreased 1.8 percent year over year in first-quarter 2018. Total Fios revenues, excluding the impact of the revenue recognition standard, grew 1.9 percent year over year, driven by growing demand for high-quality broadband service.
In first-quarter 2018, Verizon added a net of 66,000 Fios Internet connections and lost 22,000 Fios Video connections, indicative of the continued cord-cutting trend regarding traditional linear video bundles.

Fios Video Connections

                                       2016                        2017   2018
                 --------------------------  --------------------------  -----
                    1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q
                 -----  -----  -----  -----  -----  -----  -----  -----  -----
Total ('000)     4,678  4,637  4,673  4,694  4,681  4,666  4,648  4,619  4,597
Net Adds ('000)     43   (41)     36     21   (13)   (15)   (18)   (29)   (22)