Verizon Fios on fire with best Q1 adds in 6 years

Verizon CEO Hans Vestberg predicted strong demand for broadband would persist well beyond the Covid-19 pandemic, as the operator posted its highest number of Q1 Fios Internet net additions in six years. The company added a total of 102,000 Fios Internet customers across its consumer and business segments, with nearly all of these (98,000) coming from the former. During the company’s Q1 2021 earnings call, Verizon CFO Matt Ellis stated the recent period marked the third consecutive quarter of “strong growth and high take rates” for its Fios Internet product, adding the total was its best Q1 figure since 2015. As of the end of Q1, Verizon had 6.3 million consumer Fios Internet connections, up 5.7% year on year from nearly 6 million. Its total consumer broadband connections stood at 6.7 million, up 3.6% from 6.5 million. Business Fios Internet connections were up 2.7% to 339,000, with business broadband connections down 4.2% to 480,000.