A 'Baby Bell' outgrows its siblings

Article Abstract:

Pacific Telesis Group was thought to be the weakest of the seven companies that were formed following the breakup of AT&T. Recently, though, the company has begun emerging as the strongest. According to one analyst, 'Pacific Telesis is the best combination of everything you would want - liberal regulation, a high-growth region, top-notch management, and successful non-telephone businesses.' Wall Street certainly seems to agree. It has driven up Pacific Telesis stock by 213 percent since 1984, compared with an average of 167 percent for the other Baby Bells. The company has the highest growth rate for new telephone lines and earns more than other companies from those lines. The company may be less profitable in 1990 because of mandated rate reductions, increased labor costs and increased capital investments. The company plans to eliminate 11,000 jobs before 1995 in an effort to reduce overhead.

Telecommunications industry, Forecasting, Telecommunications, Company Profile, Pacific Telesis Group, PAC

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A.T.&T. and 3 regional Bells post slightly higher profits

Article Abstract:

AT and T reports an earnings increase of 1.9 percent for the 3rd qtr of 1990. Three Bell regional holding companies - Bell Atlantic Corp, Nynex Corp, and US West Inc - also report marginal profits for the quarter. AT and T's profits came despite an economic slowdown and an unusually large tax liability. The firm's revenues for the quarter climbed to $9.36 billion from $8.9 billion for the same period a year ago. Bell Atlantic Corp reports an increase in profits of 4.2 percent, to $358.4 million, from $344.1 million, while sales increased to $3.1 billion from $2.91 billion for the same period a year ago. Nynex Corp reports profits of $296.7 million for the quarter compared with $288.7 million a year ago. US West Inc reports profits of $302.6 million on sales of $2.48 billion, compared with profits of $258.1 million on $2.32 billion in sales a year ago.

Bell Atlantic Corp., U S WEST Inc., BEL, USW, Financial Report, NYNEX Corp., NYN

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A.T.&T.'s income rises 19%; 'Baby Bell' profits are mixed

Article Abstract:

AT&T reports a 19 percent increase in its 3rd qtr earnings. The increase reflects continued growth in long-distance calling. AT&T earned $699 million (65 cents a share), compared with $587 million (55 cents a share) in 1988. MCI Communications Corp and US Sprint Communications Co also report increased earnings in the 3rd qtr. Bell regional telephone companies report mixed results in the 3rd qtr: Nynex's income dropped 14.8 percent, to $288.7 million ($1.47 a share); US West's income declined 8.9 percent, to $258.1 million ($1.39 a share); Bell Atlantic's income increased 6.5 percent, to $363.2 million ($1.82 a share); and Pacific Telesis's income dropped 12.6 percent, to $278 million (68 cents a share).

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