Verizon reported adding 448,000 net new broadband connections, including 147,000 FiOS data customers, in its third quarter. A year ago, the company added a total of 389,000 Internet customers. FiOS Internet customers now total 522,000.
Verizon said its FiOS network has passed a total of 5.3 million homes (its target is 6 million by year-end), though the basic FiOS service – Internet access – can actually be delivered to only 3.8 million homes passed.
The company added a net 63,000 new FiOS TV customers in the third quarter 2006, compared with 35,000 in the second quarter 2006. The company now claims a total of 118,000 FiOS TV customers. Verizon has franchise agreements allowing it to offer video to 1.2 million homes.
The cost to pass a home with fiber declined to $845 in September 2006, lower than the company’s year-end target of $850. The cost to actually connect a home with fiber was $900 in September, however, toward a year-end target of $880.
Verizon also has 496,000 customers who receive a Verizon DirecTV bundle, an addition of 64,000 net new customer additions in the quarter.
The company lost almost 419,000 primary residential phone lines, continuing the trend of line losses to wireless (including to Verizon Wireless) and cable VoIP competition.
Data revenue was $4.1 billion, up 89.3% from third quarter 2005, including results from Verizon Business domestic and global operations. Data revenue, the company said, now represents one-third of all wireline revenue.
Corporate revenue was $23.3 billion in the quarter just completed; a year ago, the company tallied $18.5 billion in sales. Corporate profit was $1.9 billion, flat compared to Q3 2005.