Verizon sees big FiOS IPTV success for Q4,
Michelle Clancy ©RapidTVNews | 25-01-2012
Verizon added 194,000 FiOS IPTV video subscribers in the fourth quarter of 2011, which helped it just beat Wall Street profit estimations of $28.39 billion with a record $28.4 billion in revenue.
That 7.7% year-over-year increase translates into quarterly earnings of 52 cents per share and the new chunk of subscribers raises Verizon's FiOS TV uptake to 4.2 million households, with an ARPU of more than $148, up about $2 from a year ago. To put that in perspective, overall wireline consumer ARPU increased 8.5% YOY to $96.43.
The FiOS network passed 16.5 million premises at year-end 2011, up more than 900,000 from year-end 2010. So FiOS video penetration now stands at 31.5%, compared with 28.0% last year, and Internet penetration at 35.5% at year-end 2011, compared with 31.9% at year-end 2010. To boot, FiOS is more than earning its keep: FiOS services (TV and Internet) represented a full 61% of consumer wireline revenues in the quarter.
"With recent strategic moves and our investments in FiOS, LTE, and global IP and cloud-based strategic services, Verizon has set the stage for accelerated growth across our business units, and we look to continue to build significant value for shareholders in 2012," said CEO Lowell McAdam. The company said
Despite a bad economy driving fears of cord-cutting, Verizon saw revenue of $110.9 billion for the full year, a 4% increase from 2010