Verizon Wireless, FiOS Growth Slows, But Quarter Fine

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Verizon (VZ) posted a solid Q3, narrowly edging Wall Street’s expectations for sales and profits. But growth slowed year-over-year in two of its most important businesses:

  • Verizon Wireless added 1.2 million net new subscribers during Q3, down from 1.5 million a year ago. (And below the 2.0 million that smaller rival AT&T posted last week, driven by Apple’s iPhone.)
  • Verizon added 191,000 net new FiOS TV subscribers during Q3, down from 233,000 a year ago. Part of that may be due to lower promotional spending.

The fourth quarter will be big, especially for wireless: Verizon is about to launch a new series of “Droid” phones based on Google’s (GOOG) Android platform that it hopes will compete better against the iPhone. And a new BlackBerry Storm from Research In Motion (RIMM) is set to hit shelves, too.

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