Verizon Posts Lower Profit, Higher Revenue

Verizon Communications Inc on Tuesday posted lower quarterly earnings, but revenue rose as it added customers to its wireless business.

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Verizon reported a third-quarter profit of $3.79 billion, or 89 cents per share, compared with $5.6 billion, or 78 cents per share, a year earlier.

Revenue rose 4 percent to $31.6 billion. Wall Street expected $31.58 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Marina Lopes; Editing by Lisa Von Ahn)