Verizon’s Fios Internet net additions in 1Q18
Previously, we discussed pay-TV market trends affecting Verizon (VZ). The telecom company is coping with the challenges of the pay-TV market by focusing on its Internet offering through Fios. It will be interesting to learn what Fios Internet net customer additions Verizon saw in 1Q18, as the company has continued to face strong competition from leading cable companies.
In 4Q17, Verizon gained 47,000 Fios Internet customers, compared with 68,000 in 4Q16. However, the net gain in Fios Internet connections in 4Q17 was offset by a decline in DSL[1.digital subscriber line]-based Internet connections. This decline in total broadband subscribers was primarily driven by competitive pressure from leading cable companies such as Comcast (CMCSA) and Charter (CHTR).
Verizon’s Fios Gigabit Connection
Verizon management noted that Fios Gigabit Connection, which the company launched last year in certain markets, has continued to gain traction, offering speeds of up to 1 Gbps (gigabits per second).
Verizon’s Fios Internet penetration fell 30 basis points to 40.1% in 4Q17 from 40.4% in 4Q16. Fios Internet customers rose ~3.5% year-over-year to 5.9 million at the end of 4Q17.
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