Telecom giantVerizonon Wednesday reported that it lost 82,000 net pay TV subscribers for its FiOS consumer video service in the first quarter, compared with a loss of 84,000 in the year-ago period and a loss of 72,000in the fourth quarter.
As it has done in the past, the company cited "the ongoing shift from traditional linear video to over-the-top offerings." Verizon, led by CEO Hans Vestberg and driving hard into the 5G era, offset the pay TV losses with broadband internet subscriber growth as it added 98,000 net customers for the FiOS consumer internet service, compared to 59,000 in the year-ago period.Together with business internet customers, the firm said it added 102,000 net new users in the latest period, its best first-quarter.
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