Verizon reaches 1.2mn FiOS TV subscribers in Q1

April 30, 2008 – Verizon has revealed in its first quarter results that it reached 1.2mn subscribers for its “FiOS TV” service, with 263,000 net additions in the period.

The company also stated that it achieved revenues of over US$ 1bn for consumer and small-business broadband and video customers, with a 56% growth in the consumer segment.  Verizon also reached 1.8mn FiOS Internet customers in the first three months of this year and 8.5mn total broadband customers, up 14.9% year-on-year.

“Verizon has weathered the current economic uncertainty with strong first-quarter results,” said Ivan Seidenberg, Chairman and CEO of Verizon.  “With our strong cash flows, we continue to invest in growth, evolve our business and return value to shareholders.”

The company’s broadband fibre to the home (FTTH) network, which delivers FiOS TV and FiOS Internet services, passed 10.4mn premises by the end of the quarter.  Total revenues for the period from all operations reached US$ 23.8bn, up 5.5% year-on-year, and operating profit rose 14.1% to reach US$ 4.3bn.