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Verizon Has Best Wireline Broadband Quarter Since 2014

(Image credit: Verizon)

Verizon in its third quarter earnings report touted its best quarter for wireline broadband growth since Q4 of 2014, adding 144,000 subscribers across its residential and business high-speed internet services. 

The 139,000 residential HSI adds also represented a stark improvement over the 30,000 Fios internet additions reported int he third quarter of 2019.=

The company attributed the growth to the generally strong stay-at-home demands of consumers during the pandemic. Unlike its competitors in the cable industry, Verizon largely curtailed its techs in the second quarter, and added only 10,000 wireline broadband users during that period. 

Verizon continues to shed Fios TV subscribers, losing another 61,000 during Q3. It has just over 4 million linear pay TV customers left. 

The video losses represented an improvement over the 83,000 TV customers shed in the second quarter. 

Video losses “improved slightly as live sports content has picked up, but core cutting remains the key driver of video disconnections,” Verizon CFO Matthew Ellis told investors Wednesday. 

Overall, Verizon reported third-quarter revenue of $31.5 billion, short of estimates of $31.6 billion.