Verizon Communications Inc, the No. 1 U.S. wireless carrier by subscribers, reported a 3.2 percent increase in quarterly revenue as heavy promotions helped it to check customer defections.

The company’s operating revenue rose to $34.25 billion in the fourth quarter ended Dec. 31 from $33.19 billion a year earlier.

Net income attributable to Verizon was $5.39 billion, or $1.32 per share, compared with a loss of $2.23 billion, or $0.54 per share.

(Reporting by Kshitiz Goliya in Bengaluru; Editing by Saumyadeb Chakrabarty)

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