Verizon FiOS Still Growing, But Slowing
Verizon’s fiber-fed FiOS service continued to head in a positive direction in the first quarter of 2014, but the rate of subscriber growth showed signs of slowing.
Verizon added 57,000 FiOS Video connections in the first quarter of 2014, versus 169,000 in the year-ago quarter. It also tacked on 98,000 FiOS Internet subs in the first quarter, down from the 188,000 it added a year ago. Verizon added 126,000 net new FiOS Internet connections and 92,000 new FiOS video customers in the fourth quarter of 2013.
With DSL factored in, Verizon added 16,000 broadband customers in the first quarter, compared to 99,000 in the first quarter of 2013, giving it a grand total of 9 million, up 1.5% year-over-year. During the quarter, Verizon migrated an additional 78,000 customers from copper to fiber.
“Verizon has delivered double-digit earnings growth in eight of the past nine quarters, and in first-quarter 2014 we posted our strongest consolidated revenue growth in five quarters. With the wireless transaction now behind us, we have great confidence in our ability to sustain these strong results,” Verizon chairman and CEO Lowell McAdam (pictured) said, in a release.
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