Jump in Long-Distance Calling Helps Boost AT&T;’s Profit 16.6%
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American Telephone & Telegraph Co. said Wednesday that its profit jumped 16.6% in the first quarter, the result of a rise in long-distance calling and gains from its Universal credit card business.
The New York-based company earned $883 million, or 67 cents a share, compared to $758 million, or 59 cents, a year earlier. Revenue rose to $15.38 billion from $15.27 billion.
Separately, long-distance rival Sprint announced first-quarter income of $136 million, or 62 cents per share, versus $84 million, or 38 cents, a year ago.
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