Pacific Telesis Group: The diversified telecommunications firm’s...
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From Times Staff and Wire Service Reports
Pacific Telesis Group: The diversified telecommunications firm’s 1989 net income rose 5% from the previous year to $1.24 billion. Revenue totaled $9.59 billion, about the same as 1988. Fourth-quarter earnings were $322 million, up 29% from a year earlier, and included one-time adjustments that increased profit by $36.4 million. Revenue for the period held steady at $2.48 billion. The San Francisco concern attributed results in part to growth at PacTel Cellular, which at year-end served 381,000 subscribers nationwide, up 45%--its largest increase in subscribers in one year.
Tables, D8
