GTE Corp. and United Telecommunications attributed lower...
- Share via
GTE Corp. and United Telecommunications attributed lower profits to increased losses and fraud by phone users at their US Sprint Communications subsidiary. Sprint is the nation’s third-largest long-distance company. GTE, based in Stamford, Conn., said net income for the first quarter of 1987 dipped 6% from a year earlier. United Telecommunications, based in Kansas City, Mo., said its profit slid 71% from the like 1986 period. The two phone companies, which are equal owners of US Sprint, each had a pretax loss of $121 million from the long-distance company in the first quarter.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.