Verizon sees another decline in quarterly revenue, silent on Yahoo deal

Verizon Communications missed expectations on revenue in its third quarter earnings report on Thursday before the opening bell.

The US mobile carrier is currently in the process of acquiring Yahoo's core internet business, but the valuation of the company has been cast into doubt due to its admittance of 500 million users' accounts being hacked in 2014.

Verizon reported $30.9bn in revenue for the quarter, missing out on analyst estimates of $31.09bn. However, non-GAAP earnings per share beat expectations, reaching $1.01 despite most analysts predicting $0.99 earnings per share.

The company made little mention of the Yahoo deal in its statement, failing to address shareholders biggest concern. Verizon have previously been reported to be seeking a discount on the $4.8bn deal agreed during the summer.

"Verizon continues to deliver strong financial and operational results in highly competitive markets while positioning itself for future growth," said Chairman and CEO Lowell McAdam.

"While we transform our company in a challenging environment, we have maintained the financial flexibility to invest in our industry-leading networks to better serve customers, add scale to bring innovation to the mobile media and Internet of Things (IoT) markets, and increase dividends for a 10th consecutive year."

In pre-market trading in New York on Thursday morning, Verizon shares fell by 2.5%.