Verizon profits dip, subscriber growth slows

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On the wireline side of the business, Verizon said it added 185,000 Fios Internet subscribers and 168.000 Fios TV subscriber during the quarter, pushing the total customer base for Fios Internet to 3.6 million subscribers and 3.0 Fios TV subscribers.

Still, subscriber growth for Fios is slowing compared to 2009. In the first quarter of 2009, Verizon added 298,000 Fios Internet subscribers and 299,000 Fios TV subscribers. But Verizon executives said that the company is making more money from its current subscribers. The average revenue per subscriber was up 12.3 percent compared to the first quarter of 2009. And in total broadband and video revenues were up 22 percent compared to the same quarter a year ago.

 

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Personally, I see the net additions holding steady the remainder of 2010 as FiOS has stopped deploying into new markets and is focusing on expanding existing markets where they have obtained cable TV franchise agreements. Last year I thought Verizon had reach 5 million TV subscribers by mid-2012, but I doubt they will even reach 4 million with these numbers.