U S West's net off 11%; Bell Atlantic posts gain

Article Abstract:

U S West Communications Inc reports earnings down in 3rd qtr 1991, to $269.3 million, or 66 cents a share, from $302.6 million, or 77 cents a share, in the same period last year. Sales are up 5.6 percent, to $2.62 billion, from $2.48 billion last year. According to Richard D. McCormick, the company's president and chief executive officer, earnings are down as a result of interstate rate reductions and international investments. U S West's stock was unchanged on Friday, Oct 18, 1991, closing at $35. Bell Atlantic Corp reports an increase in profits, to $382.7 million, or 98 cents a share, from $358.4 million, or 91 cents a share, in the same period last year. Earnings are up partly because of a sale of stock from Telecom Corp of New Zealand. Bell Atlantic's stock was up 75 cents on Oct 18, closing at $45.125.

Regional Bell Operating Companies, U S West Communications Inc., Third Quarter, Stock

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2 'Baby Bells' diverge on earnings

Article Abstract:

Two Baby Bell companies, Southwestern Bell Corp and Bell Atlantic, report very different financial standings. Southwestern's profit rose in the 2nd qtr, but bell Atlantic's profit dropped because of a one-time charge against earnings. Southwestern earned $305 million or $1.01 a share, up 76 percent from $173 million or 57 cents a share for the same period in 1991. Revenues were up 6.5 percent from $2.24 billion to $2.38 billion. Bell Atlantic reports earnings of $298 million or 70 cents a share, which is down 8.3 percent from the $325 million or 77 cents a share in 1991. The company reports earnings at $3.15 billion, up from 1991's $3.13 billion. Bell Atlantic took a charge of $56 million to help pay for the acquisition of Metro Mobile CTS Inc and for debt refinancing.

Telephone and telegraph apparatus, Radiotelephone communications, Telephone companies, Profits, SBC, Southwestern Bell Corp., Telephone Company, Profit, Financial Report, Losses

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