Verizon adds 167,000 FiOS TV subscribers in Q2

July 31, 2007 – Verizon has reported 167,000 net new subscribers for its FiOS TV service in the second quarter of 2007, bringing it to a total of 515,000 subscribers for the fibre-based IPTV service.

The operator posted a profit of $1.7bn in the second quarter of 2007, or 58 cents per share, compared to 43 cents per share in the same period of 2006.  Total operating revenue in the three months ending June 30 reached $23.3bn, up 6.3% from the same period of 2006.

Verizon also registered 288,000 net new broadband connections in the second quarter of 2007, of which 203,000 were new FiOS Internet subscribers.  Verizon now has 7.7mn broadband customers, of which 1.1mn are FiOS Internet subscribers.

As of June 30, Verizon has reached nearly 7.6mn premises with FiOS, both Internet and TV services, and believes itself on track to hit its target of 9mn by the end of 2007.  Verizon also added 125,000 satellite TV customers in the second quarter of 2007 through its co-marketing agreement with DirecTV.