Verizon Adds More FiOS TV Subscribers in Fourth Quarter
The telecom giant kicked off earnings season for pay TV operators.
NEW YORK - Telecom giant Verizon on Tuesday reported stronger FiOS TV subscriber growth in the fourth quarter than in the year-ago period.
Kicking off earnings season for pay TV operators, Verizon said that FiOS TV, which competes with cable and satellite TV services, recorded 194,000 user net additions in the final quarter of 2011. In the fourth quarter of 2010, the service had added 182,000 net customers. In the third quarter of 2011, it had added 131,000.
The company had 4.2 million FiOS video subscribers at the end of the year.
Verizon on Tuesday also reported 201,000 FiOS broadband subscriber additions in the fourth quarter, bringing its total to 4.8 million. The new FiOS Internet connections more than offset a decrease in DSL-based Internet connections, resulting in a net increase of 98,000 broadband connections from the third quarter, according to the company.
Overall, Verizon swung to a fourth-quarter loss of $212 million amid one-time pension adjustments and other special items. Revenue increased 7.7 percent to $28.4 billion though, marking a quarterly revenue growth record, according to the firm.