FiOS Growth Bolsters Verizon 1Q12 Revenues

  • FTTH
  • FiOS
NEW YORK - Verizon Communications posted another quarter of customer and revenue gains for FiOS fiber-optic services - which in turn contributed to the company's overall double-digit growth in year-over-year quarterly earnings and increased cash flow. In first-quarter 2012, Verizon's total operating revenues were $28.2 billion on a consolidated basis, an increase of 4.6 percent compared with first-quarter 2011.

'On Track to Continue to Deliver Strong Results'

Lowell McAdam, Verizon chairman and CEO, says the quarterly results "show that we continue to execute in the key growth areas of our business. Verizon Wireless produced both great growth and great margins, and we produced another strong quarter of FiOS growth."

He added: "We remain confident in our ability to take advantage of the growth opportunities we see, and we are focused on driving operating efficiencies. We are on track with our plans and expect to continue to deliver strong results."

FiOS Highlights

Average revenue per user for FiOS customers continued to total more than $148 in first-quarter 2012, compared with $97.88 for all wireline services. FiOS services to consumer retail customers represented 63 percent of consumer wireline revenues in first-quarter 2012.

Verizon added 193,000 net new FiOS Internet connections and 180,000 net new FiOS Video connections in first-quarter 2012. At the end of the quarter, there were 5.0 million FiOS Internet and 4.4 million FiOS Video connections. The net increase in total broadband connections over the first quarter was 104,000, reflecting a loss of nearly 90,000 DSL lines.

FiOS penetration (subscribers as a percentage of potential subscribers) also continued to increase. FiOS Internet penetration was 36.4 percent at the end of first-quarter 2012, compared with 33.1 percent at the end of first-quarter 2011. In the same periods, FiOS Video penetration was 32.3 percent, compared with 29.1 percent.

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