After steadily gobbling up IPTV customers over the last decade, Verizon Fios posted its third quarter of pay TV subscriber losses in the last year, dropping another 15,000 customers in the second quarter.
The losses were in line with Wall Street’s consensus forecast of around 16,000 users. The FTTH operator lost 13,000 pay TV users in the first quarter and 41,000 in the second quarter of 2016.
Verizon ended the second quarter with just under 4.7 million remaining pay TV customers, making it the sixth largest operator in the U.S.
Verizon added 49,000 FiOS broadband users in the second quarter, beating the consensus estimated gain of 36,000.
Wireline revenue for Verizon declined 2.3% in the second quarter compared to a drop of 4.6% in the same quarter of 2016.
“After all the divestures in recent years, wireline justifiably gets less attention than it once did,” MoffettNathanson analyst Craig Moffett told investors, noting that Verizon’s wireline business only accounts for 4.7% of the company’s EBITDA. “Still, the business is a large one by revenues, accounting for 25% of Verizon’s consolidated total.”
For a broader look at Verizon’s financials, take a look at FierceWireless coverage from Thursday morning