Verizon sees FiOS third-quarter growth slower than expected
NEW YORK |
NEW YORK (Reuters) - Verizon Communications Inc (VZ.N) will report third-quarter subscriber growth for its FiOS video and Internet service that is lower than it had expected, Chief Financial Officer Fran Shammo said on Thursday.
Shammo said the company would not meet its target for FiOS subscriber growth in a range of 150,000 to 170,000 until the fourth quarter, compared with its previous expectation to reach that target in the third quarter.
Instead Shammo said third-quarter growth would be similar to the second quarter.
"We probably pulled back a little too much on promotion," Shammo told the audience at a Goldman Sachs investor conference.
(Reporting By Sinead Carew; Editing by Jeffrey Benkoe)
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