Verizon bleeds pay-TV subs in Q2
Details
Michelle Clancy
| 02 August 2019

US telecom giant Verizon lost 52,000 net pay -V subscribers in the second quarter, representing accelerating loss from 37,000 fewer in the year-ago period, but still a slight improvement from a loss of 53,000 in the first quarter.

The losses were "reflecting the ongoing shift from traditional linear video to over-the-top offerings," according to the company.

Verizon Media, which was borne out of the telco’s acquisitions of AOL and Yahoo and which encompasses its media and advertising businesses, said its revenue fell 2.9% year-over-year, to $1.8 billion.

"Gains in native and mobile advertising continue to be offset by declines in desktop advertising," the company said.

Overall though Verizon posted better-than-expected second-quarter results, thanks to profit driven by strong wireless subscriber growth.

Earnings came in at $1.23 adjusted earnings per share, versus $1.20 expected in a Bloomberg consensus forecast; and revenue totalled $32.1 billion versus $32.41 billion expected.
It saw 451,000 retail postpaid net additions in wireless.