GTE’s third-quarter net income rose 5% over...
GTE’s third-quarter net income rose 5% over the year-ago period to $313 million. Revenue increased 5% to $4 billion. The Stamford, Conn., telecommunications company attributed the results in part to its sale to United Telecom of a majority of GTE’s interest in US Sprint. The results include a $55-million pretax provision to reorganize GTE’s seven telephone-operating companies into one centralized office and four service operations offices, the company said.
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