Stocks/Earnings

Verizon Sheds 15K Fios TV Subs, Adds 49K Fios Internet Subs in Q2

Numbers improve in both categories during period 7/27/2017 1:02 PM Eastern

Verizon Communications turned in improved Fios TV and internet sub numbers in the traditionally tough second quarter.

The results weren’t enough to avoid a loss of 15,000 Fios TV subs in Q2, improving on a year-ago loss of 41,000 Fios TV subs.

The telco also added 49,000 Fios internet subs, reversing the 13,000 it lost a year ago.

Verizon also tacked on 22,000 Fios digital voice customers, versus a loss of 38,000 in Q2 2016.

Verizon ended Q2 with 4.66 million Fios video subs, 5.73 million Fios internet customers, and 3.9 million Fios phone subs.

With DSL losses factored in, Verizon shed 72,000 high-speed Internet customers and a total of 282,000 voice connections.

Total wireline revenues were $7.8 billion, up 1.2%, while Fios revenues rose 4.4%, to $2.89 billion.

On the wireless side, Verizon posted 614,000 retail postpaid net adds, including 590,000 postpaid smartphone net adds.

Verizon reported consolidated earnings of $1.07 per share on revenues of $30.5 billion.

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