Costs hurt Verizon's Q1
Telecommunications giant Verizon Communications said Monday that it now serves close to 1 million video customers. Reporting a lower first-quarter profit because of merger costs and divestitures, the company said it added 141,000 net subscribers to its FiOS TV service, which competes with cable operators, in the first quarter, bringing its total reach to 348,000 FiOS TV users. In addition, it reported 618,000 satellite TV customers under a partnership with DirecTV Group. Verizon also said the growth of FiOS TV is accelerating as it averaged about 2,200 net customer additions each business day in first-quarter 2007, up by about 750 from the fourth quarter. FiOS TV now is available in more than 400 communities in 10 states.