Verizon snags 92K thousand more Fios broadband subscribers in Q2

Verizon’s Fios business continued to flourish in the second quarter as its broadband subscriber base rose again. During the quarter, Verizon added 92,000 Consumer Fios Internet customers. Total Fios revenues were up 5.4 percent year-over-year, driven by continued broadband subscriber growth. It ended the quarter with a total of 6.4 million Fios subscribers. Consumer Fios revenues of $2.9 billion in second-quarter 2021 were the highest since the company's new operating structure was introduced in 2019. Matt Ellis, CFO of Verizon, told investors during its second-quarter earnings call that “the company’s trailing 12-month total Fios Internet net addition performance is the highest since 2015.” Within the Fios broadband arena, Verizon is seeing more of its customers migrate to its 1 Gbps speed package. “Momentum in Fios continues with revenues of $2.9 billion, surpassing pre-COVID levels, driven by the continued uptake of gigabit speeds,” Ellis said. “The results represent our highest revenue results ever.”