Verizon revenue beats as promotions help attract postpaid users

Verizon Communications Inc reported better-than-expected quarterly revenue and profit as heavy promotions helped the company attract postpaid subscribers amid the launch of Apple Inc's new iPhones. The largest U.S. wireless service provider has been facing stiff competition from companies such as T-Mobile US Inc and Sprint Corp, who have been offering massive discounts on call and data plans. Apple launched the iPhone 6S and 6S Plus in September, triggering heavy promotional activity in the tele