Verizon posts 15K more Fios TV customer losses in Q2

Verizon FiOS set-top
Verizon added 49,000 FiOS broadband users in the second quarter, beating the consensus estimated gain of 36,000.

After steadily gobbling up IPTV customers over the last decade, Verizon Fios posted its third quarter of pay TV subscriber losses in the last year, dropping another 15,000 customers in the second quarter. 

The losses were in line with Wall Street’s consensus forecast of around 16,000 users. The FTTH operator lost 13,000 pay TV users in the first quarter and 41,000 in the second quarter of 2016. 

Verizon ended the second quarter with just under 4.7 million remaining pay TV customers, making it the sixth largest operator in the U.S.


Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

RELATED: From Altice to Comcast: Tracking Q2 2017 earnings in the cable industry

Verizon added 49,000 FiOS broadband users in the second quarter, beating the consensus estimated gain of 36,000.

Wireline revenue for Verizon declined 2.3% in the second quarter compared to a drop of 4.6% in the same quarter of 2016.

“After all the divestures in recent years, wireline justifiably gets less attention than it once did,” MoffettNathanson analyst Craig Moffett told investors, noting that Verizon’s wireline business only accounts for 4.7% of the company’s EBITDA. “Still, the business is a large one by revenues, accounting for 25% of Verizon’s consolidated total.”

For a broader look at Verizon’s financials, take a look at FierceWireless coverage from Thursday morning

Suggested Articles

Effectv is launching Mnemonic, a full-service creative agency and a self-service creative portal through Effectv Ad Planner.

Kevin Mayer, chairman of Disney’s direct-to-consumer and international business, this week further explained the troubles.

MobiTV is partnering with Telia Carrier to give its pay TV customers better streaming video app performance through direct access to data centers.