Verizon Third-Quarter Pay-TV Subscriber Growth Slows Compared With Year-Ago Period

Verizon Wireless

The telecom giant added 114,000 FiOS TV subscribers in the latest period

Telecom giant Verizon saw its pay-TV subscriber growth slow in the third quarter compared to the year-ago period.

The company on Tuesday said it added 114,000 FiOS TV subscribers in the period, compared with 135,000 in the year-ago period. It had added 100,000 subscribers in the second quarter and 57,000 in the first.

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The company ended September with about 5.5 million FiOS TV subscribers, up 7 percent from the year-ago period. The telecom giant's FiOS TV service competes with cable and satellite TV operators.

Verizon, led by CEO Lowell McAdam, added 162,000 net new FiOS Internet connections in the third quarter to end it with 6.5 million, representing year-over-year growth of 8.8 percent.

Verizon's revenue in the third quarter rose 4.3 percent over the year-ago period to $31.59 billion. Earnings dropped 32 percent to $3.79 billion, though, on higher expenses.

Email: Georg.Szalai@THR.com
Twitter: @georgszalai

 

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