Verizon Communications, in reporting third-quarter earnings today, posted a drop in net income of almost 34 percent, but on the much brighter side reported slightly higher revenue and a FiOS TV customer additions of 202,000. That gives the carrier a total base of 717,000 FiOS TV customers. Customer additions of the FiOS Internet service came in at 229,000. The company added about 1.6 million wireless customers during the quarter.
Overall wireline revenue was still down slightly less than 1 percent, but Verizon managed 63 cents-per-share earnings that beat most analyst estimates by 1 cent. Many industry observers had been looking for Verizon to show evidence of greater video growth and strong earnings after AT&T had such a strong quarter, and the telco came through in most respects.
- read early coverage at TheStreet.com
- AT&T reported a profit surge for Q3