Verizon FIOS consumer video subscribers down 78,000 in 1Q 2022

NEW YORK – Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported first-quarter results today, including the expansion of its 5G Ultra Wideband network to nearly 113 million people around the country and elevated demands for its 5G mobility and nationwide broadband services. The company’s performance produced its best broadband result in over a decade, a surge in upgrades and increased wireless service revenue growth.

Verizon Consumer results

Verizon Consumer had fixed wireless net additions of 112,000 for the quarter, with sales boosted by Verizon’s launch of C-Band spectrum and “5G Ultra” campaign. Additionally, Fios internet net additions for the quarter were 55,000, driven by record-low churn levels with gross additions lower compared to first-quarter 2021. Verizon Consumer Fios revenues were $2.9 billion in first-quarter 2022, an increase of 1.8 percent year over year. Verizon Consumer reported 78,000 Fios Video net losses in first-quarter 2022.

Fios Video Connections (‘000):

                                2020                        2021   2022
                 -------------------  --------------------------  -----
                    2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q
                 -----  -----  -----  -----  -----  -----  -----  -----
Consumer
  Connections    3,987  3,926  3,854  3,772  3,710  3,642  3,573  3,495
  Net Adds        (81)   (61)   (72)   (82)   (62)   (68)   (69)   (78)