A.T.&T. net up 12.5%; MCI gains

Article Abstract:

Long-distance telephone companies AT and T and MCI Communications Corp report gains of 12.5 percent and 22 percent, respectively, in 1st qtr 1990 while local telephone company BellSouth Corp reports a 5.9 percent drop in earnings during that period. AT and T's earnings grew 62 cents a share, or $668 million, from 55 cents a share, or $594 million, in the same period a year earlier. Revenues increased by 2.7 percent to $8.89 billion from $8.66 billion while product sales increased 1.2 percent and use of the long-distance service increased nearly 7 percent during that period. Revenues at MCI increased 20.6 percent from $1.5 billion to $1.81 billion resulting in an earnings increase to $163 million from $135 million. BellSouth's revenues increased 4.8 percent from $3.36 billion to $3.52 billion and its loss in profitability is attributed to an accounting change and should be only temporary.

BellSouth Corp., BLS, First Quarter

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A.T.&T.'s earnings up by 26%: big write-off seen before end of year; stock rises $1.625

Article Abstract:

AT&T announces pretax charges of about $4 billion by the end of 1991. Even so, the telephone company expects a good earnings report for 2nd qtr 1991. AT&T's net income is up 26 percent, to $828 million, or 75 cents a share, from $657 million, or 60 cents a share, in the same period in 1990. AT&T's stock rose $1.625 on Thursday, Jul 18, closing at $39.625, as the market responded to the growth in long-distance usage and AT&T's steady market share. Meanwhile, MCI Communications Corp reports net income of $137 million, or 50 cents a share, for 2nd qtr 1991, a decrease of 22.6 percent from the $177 million, or 67 cents a share, reported in the same quarter in 1990. Revenues are up 12.4 percent, from $2.03 billion in 1990 to $2.1 billion for the 2nd qtr of 1991.

Prices and rates, Stocks, Stock prices, Cost, Price, Stock, Long-Distance Telephone Service, Financial Report, Second Quarter

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MCI's net off 11.5% in quarter

Article Abstract:

MCI Communications Corp will post earnings of $108 million for 4th qtr 1989, a decline of 11.5 percent over last year's figure. Revenues increased 19.6 percent, to $1.71 billion. For FY 1989, profit is $558 million on revenue of $6.47 billion. Reaction to MCI's 4th qtr financial report caused stock to fall by more than $3. In a further analysis of the report, MCI's operating earnings rose sharply, but charges for engineering consolidation expenses and early debt retirement reduced 4th qtr earnings by $70 million. Financial analysts believe that MCI's business is still strong. Overall market penetration actually increased two percentage points in 1989 despite increased competition and pricing pressure.

Telecommunications, Telecommunications Industry

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