Verizon FIOS video subscribers down 84,000 in 1Q 2020

NEW YORK — Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported first-quarter results today highlighted by strong earnings per share performance, increased cash flow, and a further commitment to network investment.

Consumer

Consumer reported 59,000 Fios Internet net additions as work-from-home, in-home schooling, and other related measures increased the demand for high-quality broadband offerings. Consumer reported 84,000 Fios Video net losses in first-quarter 2020, reflecting the ongoing shift from traditional linear video to over-the-top offerings.

Fios Video Connections (‘000):

                                       2018                        2019   2020
                 --------------------------  --------------------------  -----
                    1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q
                 -----  -----  -----  -----  -----  -----  -----  -----  -----
Consumer
  Connections    4,525  4,487  4,423  4,377  4,322  4,270  4,203  4,152  4,068
  Net Adds        (23)   (38)   (64)   (46)   (55)   (52)   (67)   (51)   (84)
Business
  Connections       72     73     74     74     76     76     77     77     77
  Net Adds           1      1      1      -      2      -      1      -      -
Total
  Connections    4,597  4,560  4,497  4,451  4,398  4,346  4,280  4,229  4,145
  Net Adds        (22)   (37)   (63)   (46)   (53)   (52)   (66)   (51)   (84)