With FiOS subscriptions up in the first quarter for both Internet and video, Verizon beat analysts’ estimates in its quarterly profit report.
“Verizon, the nation’s largest wireless carrier, said it topped first-quarter profit estimates on Tuesday even as competitors have been increasingly aggressive in trying to steal away customers,” Forbes reports. “Overall, Verizon reported a profit of $4.34 billion, or $1.02 per share, down from $5.99 billion, or $1.15 per share, a year ago. Analysts had called for 95 cents per share.”
Verizon FiOS added 133,000 Internet subscriptions and 90,000 video subscriptions during the first quarter of 2015, the report notes.
“Wireless revenue in the quarter rose 6.9%, while Verizon FiOS revenue surged 10.2% to $3.35 billion,” Forbes adds.
With increasingly aggressive competition from T-Mobile and others, Verizon has recently cut the cost of a number of its data plans, the piece notes.