Verizon's FiOS Lost 18,000 Subs In Q3

Verizon’s FiOS video service lost more ground in the third quarter, following a similar decline in the second quarter.

The video service lost 18,000 pay subscribers versus a 36,000 gain a year ago. This follows a 15,000 drop in the second quarter and a 13,000 decline in the first quarter. FiOS now has 4.6 million subscribers. 

Company revenue, including FIOS and a completed acquisition, grew 1.1% to $7.6 billion during this period.

In an earnings call on Thursday, Verizon executives said they are working on a live TV over-the-top (OTT) TV service -- but it didn’t have a timeline for the start of the platform.

Verizon’s new media business, Oath, which now includes AOL, Huffington Post and Yahoo, had revenues of $2 billion.

Verizon added 66,000 new FiOS broadband connections in the third quarter, now totaling 5.8 million.

The company had overall net increase of 603,000 retail connections in its third quarter, including 274,000 phone subscribers. The company had 115.3 million total wireless retail connections, up from 113.7 million.

Its overall revenue grew 2.5% to $31.72 billion, with net income flat at $3.62 billion. Mid-day Thursday trading of Verizon’s stock was up 3% on the day to $50.04.



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