GTE Corp: The Stamford, Conn., firm’s earnings...

GTE Corp: The Stamford, Conn., firm’s earnings rose to $329 million, up 15% from the 1988 quarter. Revenue rose 5% to $4.1 billion. Local telephone service, the company’s major business, gained 7% in revenue to $3 billion. It said operating income rose only fractionally, to $689 million, because of rate actions by regulators in California and Texas.