Verizon Communications (NYSE: VZ) added 116,000 FiOS video subscribers in the fourth quarter, a 26 percent year-over-year uptick, upping its total video subscriber base to 5.6 million.
With FiOS representing 77 percent of Verizon's consumer wireline revenue, the company's video services have now penetrated 35.8 percent of the U.S. pay-TV market. Verizon also reported a net increase of 145,000 Internet customers in Q4, as FiOS revenue increased 11.6 percent to $3.3 billion.
Overall, Verizon reported a net loss in Q4 of $2.23 billion after adjustments for pensions and other post-employment benefits, such as early retirement.
Verizon reported total revenue across wireless and wireline businesses of $33.2 billion in the Q4, a 6.8 percent year-over-year uptick.
The company reported earnings per share of 71 cents, meeting the average estimate of analysts surveyed by Zacks Investment Research.
Verizon executive VP and CFO Fran Shammo was coy when asked about Verizon's pending launch of a wireless MVPD business, saying only that Verizon was still in talks with "numerous content providers" and will have more to say "when the product launches this summer."
More to come…
For more:
- read this Verizon earnings release
Related links:
Verizon Q1 FiOS revenue rose 15.5% to $3B, but weather issues slowed installations
Shammo: Verizon will increase FiOS video rates in Q4 to offset rise in content costs
Verizon's enterprise weakness is offset by FiOS revenue strength in Q3