Verizon announced its Q1 2017 results on Thursday, which included a loss in FioS TV customers, but adds to its wireline broadband subscriber base. Verizon reported it gained 35,000 Fios Internet net connections, but lost a net of 13,000 Fios Video connections in the period. At the end of Q1 2017, Verizon had 5.7 million Fios Internet connections and 4.7 million Fios Video connections, which means year-over-year increases of 3.3 percent and 0.1 percent, respectively.
MoffetNathanson comments that the 13,000 video sub loss in the quarter was much weaker than expected, saying that consensus had called for a gain of 24,000. “This was only their second ever loss of Fios video subscribers,” the firm points out in a research note.
Expectations of a gain of 75,000 Fios Internet customers also meant that the 35,000 adds fell well short of the consensus, MoffetNathanson says.
For details on Verizon’s Q1 earnings on the wireless side, which also fell short of projections, read the article here in Wireless Week.