Yahoo core revenue plummets as CEO insists there will be no change to Verizon deal

Struggling internet company Yahoo reported a core revenue fall of 14% in its third quarter earnings from the previous quarter, but CEO Marissa Mayer insisted that the company's agreement to be taken over by Verizon Communications will not be affected.

Yahoo agreed to sell its core internet business to Verizon for $4.8bn in the summer, but the deal has been put under pressure after it emerged 500m of its account users had been hacked in 2014.

It is the fourth consecutive quarter in which Yahoo's net revenue has dropped by at least 10%, and management expect that to continue.

However, the company has profited from a cost-cutting program however, earning 17 cents per share, or $163m for the quarter.

Mayer was defiant despite reports that Verizon was preparing to request a lower price on the back of the 2014 hack and its effect on the business.

"We remain very confident, not only in the value of our business, but also in the value Yahoo products bring to our users' lives. To that end, we take deep responsibility in protecting our users and the security of their information," Mayer said in a statement.

On Yahoo's results, Mayer said that she was happy with the numbers reported.

"I am pleased with our third quarter results.This quarter, we launched several new products and showed solid financial performance across the board; both are a testimony to the tremendous teamwork, focus, and resilience of our employees," she added.