Profits increased at Bell Atlantic, US West, Nynex; first-period earnings fell at Pacific Telesis, SNET due to higher expenses

Article Abstract:

Bell Atlantic Corp, US West Inc and Nynex Corp report earnings gains; Pacific Telesis Group and Southern New England Telecommunications (SNET) report declines, citing increased expenses and reductions in revenues. US West's net income rises 8.9 percent, even though revenue from the telephone sector is flat. Nynex's 2.8 percent profit increase largely reflects contributions from non-telephone operations; revenue is up 2 percent, to $3.3 billion, from $3.2 billion. Bell Atlantic's net rises 7.4 percent; revenue rises 9 percent, to $3.02 billion, from $2.77 billion; revenue growth represents strength in the network services business, the acquisition of Control Data Corp's maintenance business and growth in non-telephone businesses. Pacific Telesis's net income drops 17 percent because of higher expenses and lowered rates. SNET's net drops 6 percent, in a slowed Connecticut economy.

Telephone companies, Bell Atlantic Corp., U S WEST Inc., Growth (Physiology), Growth, Telephone Company, NYNEX Corp., First Quarter

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Two phone firms post profit gains for 4th quarter

Article Abstract:

Pacific Telesis Group reports a 29 percent rise in 4th qtr 1989, while earnings for Southern New England Telecommunications Corp (SNETC) are a more modest 3.3 percent. Pacific Telesis shares are up 25 cents to $47.25 on growth fueled by a 33.3 percent increase in the number of cellular phone services subscribers. Pacific Telesis is also benefiting from cost containment strategies, as well as the solid performance of most of its business sectors. The number of calls and minutes of use are also up for the quarter. SNETC reports a net income increase of 21.7 percent for FY 1989 due to the $19 million sale of its FiberCom unit. SNETC reports a 2 percent increase in new telephone lines and a 4 percent increase in toll messages for 4th qtr 1989. SNETC's stock is up 25 cents to $39.50 a share.

PAC, Fourth Quarter, SNG

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