Earnings: Verizon Revs Up 5.6 Percent; FiOS TV Subs Top 1 Million

Verizon (NYSE: VZ) has reported Q4 revenue of $23.8 billion, up 5.6 percent from last year’s $22.6 billion. Net income increased 3.8 percent to $1.078 billion. The wireless business led the gain, growing 13.3 percent to $11.4 billion. Wireline revenue slipped 1.4 percent to $12.5 billion, but the company said it added 226,000 net new FiOS TV subs in the quarter, bringing its total to 943,000 at year end. Since then, the service has topped the 1 million mark. At year-end, the company had 8.2 million total broadband subs, a 17 percent increase from the year before. The FiOS TV service was available to 5.9 million homes at the end of the year, for a penetration rate of 16 percent. FiOS internet was available for sale to 7.5 million homes and claimed a 20.6 percent penetration rate. In a separate release, the company said that it’s now the 10th largest cable operator in the country and that including its satellite partnerships, it has a total of 1.8 million video subscribers. See more at our sister site mocoNews.net

Earnings Release | FIoS TV Announcement | Webcast