Verizon's FiOS TV Subscriber Growth Slows in Third Quarter
Telecom giant Verizon Communications on Thursday said that its FiOS TV service added 119,000 pay TV subscribers in the third quarter.
That was nearly unchanged from the 120,000 subscriber additions in the second quarter, but below the 131,000 additions recorded in the year-ago period.
As of the end of September, FiOS TV, which competes with cable and satellite TV firms, had 4.6 million subscribers. That meant a year-over-year increase of 15.4 percent
Verizon's financial and subscriber report kicked off third-quarter earnings season for pay TV companies.
FiOS broadband connections totaled 8.8 million at the end of the third quarter, up 2.3 percent year-over-year. That included 5.3 million FiOS Internet connections as the firm added 136,000 net new FiOS broadband users in the latest period.
Verizon reported earnings of 56 cents per share, up 14.3 percent from the 49 cents recorded a year earlier. Revenue rose 3.9 percent to $29 billion.