American Telephone & Telegraph Co. said it...
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American Telephone & Telegraph Co. said it earned $1.09 billion in the first three months of the year as its revenue rose 5%.
The telecommunications and computer conglomerate said the revenue growth reflected a modest increase from long-distance telephone service as well as double-digit percentage gains from sales of equipment and financial services.
AT&T;’s profit amounted to 80 cents a share for the three months ended March 31 and contrasted with a loss a year earlier of $6.83 billion, or $5.07 a share, when its results were reduced by huge onetime charges.
Without the charge a year ago, its latest profit was up 17% from income of $936 million, or 69 cents a share, in the first quarter of 1993. Revenue for the quarter rose to $16.56 billion from $15.72 billion a year ago.
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