Verizon FIOS video subscribers down 46,000 in 4Q 2018

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) closed 2018 with fourth-quarter results highlighted by strong growth and retention at Verizon Wireless, increased cash flow and momentum leading into the 5G era.

Wireline

Total Fios revenues grew 2.5 percent year over year, excluding the impact of the revenue recognition standard. In fourth-quarter 2018, Verizon added a net of 54,000 Fios Internet connections and lost a net of 46,000 Fios Video connections, continuing to reflect the shift from traditional linear video to over-the-top offerings. At year-end 2018, Verizon had 6.1 million Fios Internet connections and 4.5 million Fios Video connections.

Fios Video Connections

                                       2017                        2018
                 --------------------------  --------------------------
                    1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q
                 -----  -----  -----  -----  -----  -----  -----  -----
Total ('000)     4,681  4,666  4,648  4,619  4,597  4,560  4,497  4,451
Net Adds ('000)   (13)   (15)   (18)   (29)   (22)   (37)   (63)   (46)