GTE Corp. said its earnings for the...
GTE Corp. said its earnings for the third quarter rose 8%, boosted by growth in its telephone operations.
Earnings increased to $500 million, or 55 cents a share, from $461 million, or 51 cents a share, in the third quarter of 1991. Consolidated revenue rose 2% in the third quarter to $4.97 billion from $4.85 billion a year earlier.
“Telephone operations continued their excellent performance, with solid volume growth and cost levels that continue to reflect the benefits of our many productivity-improvement programs,†GTE Chairman Charles R. Lee said.
Stamford, Conn.-based GTE is the largest U.S.-based local telephone company, with domestic and international operations serving 20.7 million access lines in 40 states, Canada and Latin America.
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