Verizon's FiOS TV Subscriber Growth Slows in Fourth Quarter
The telecom giant signed up 134,000 new pay TV subscribers, down from 194,000 in the year-ago period.
Telecom giant Verizon Communications said Tuesday that its FiOS TV service signed up 134,000 new pay TV subscribers in the fourth quarter.
That was up from the 119,000 subscriber additions in the third quarter but below the 194,000 that the company had signed up in the year-ago period.
As of the end of December, FiOS TV, which competes with cable and satellite TV firms, had 4.7 million subscribers.
Verizon's financial and subscriber report kicked off fourth-quarter earnings season for pay TV companies.
Verizon also reported 5.4 million FiOS Internet connections as of the end of 2012, as the firm added 144,000 FiOS broadband users in the latest period.
Verizon reported a wider quarterly loss due to charges tied to the cost of Hurricane Sandy and severance and pension costs. Full-year 2012 earnings of 31 cents per share were down from 85 cents in 2011. Adjusted for special items, profits rose from $2.15 per share to $2.24 per share.
Fourth-quarter revenue rose 5.7 percent to exceed $30 billion for a quarter for the first time in company history. Full-year revenue was up 4.5 percent to $115.8 billion.