P.M. BRIEFING : MCI Reports 20% Earnings Gain
MCI Communications Corp., the nation’s second-largest long-distance telephone company, today reported a 20% gain in earnings in the second quarter compared with the same quarter a year ago.
The company said it earned $170 million, or 67 cents a share, in the quarter ended June 30, up from $142 million, or 56 cents per share, in 1989’s second quarter.
Revenue totaled $1.9 billion, up from $1.6 billion a year earlier.
The report contrasts sharply with that issued Tuesday by United Telecommunications Inc., majority owner of US Sprint, the third-largest long-distance carrier. United Telecom reported a 55% drop in second-quarter earnings and said it would eliminate 1,000 jobs nationwide.
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