The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, 2016.  REUTERS/Brendan McDermid

The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, 2016. REUTERS/Brendan McDermid (Copyright Reuters 2016)

Verizon reports 6.7 percent fall in third quarter revenue

Markets Reuters

Verizon Communications Inc��, the No. 1 U.S. wireless carrier that has agreed to buy Yahoo Inc's core business, reported a 6.7 percent drop in quarterly revenue on Thursday as it discounted heavily to attract subscribers.

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Net income attributable to the company fell to $3.62 billion, or 89 cents per share, in the third quarter ended Sept. 30, from $4.04 billion, or 99 cents per share, a year earlier.

Total operating revenue fell to $30.94 billion from $33.16 billion.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Saumyadeb Chakrabarty)