Verizon kicks off 2016 with 36,000 Fios video adds

As the communications giant’s transition towards value added services continues, Verizon has posted strong 2016 first quarter revenues and profits.



Driven by adding 98,000 net new Fios internet connections and 36,000 net new Fios video connections, the company reported first-quarter 2016 earnings of $1.06 per share, an increase of 3.9% compared with the same period in 2015.

Total Fios revenues were up 5% compared with 2015 to $3.5 billion, and by the end of the first quarter, just over three-quarters of consumer Fios internet customers subscribed to data speeds of 50 megabits per second or higher. Customer demand for Custom TV represented around 38% Fios video sales in the quarter.