Verizon Boosts FiOS Earnings to $2.8 Billion in 2Q

New York-based Verizon announced its second quarter earnings. Among its earnings results was an increase in its FiOS fiber-optic based products.

During the second quarter of 2016, Verizon reported a 3.7 percent increase in FiOS revenue to $2.8 billion. The company also reported it has been getting through its backlog of FiOS installations. The lag in installations was a subject in the 45-day strike earlier in 2016 organized by the Communications Workers of America.

The work stoppage mentioned in the company’s earnings release was blamed for a decline of 13,000 FiOS installations during the quarter. The company did announce they were back to normal installation activity as of June 2016.

The telecommunications giant also reported growth in its iOT, to $205 million, up 25 percent from the same period in 2015. In spite of its gains in FiOS and iOT, the company saw a 5.3 percent decline in its overall earnings durng the quarter to $30.53 billion. Full details of Verizon’s earning can be found at Verizon.com