IRVING, Texas-GTE Corp. reported revenues for the third quarter ended Sept. 30 of $6.4 billion, an increase of 8 percent from the $6 billion reported for third-quarter 1998.
The company recorded net earnings of $952 million, or 97 cents per share, a 14-percent increase over last year’s third-quarter earnings.
On Oct. 8, GTE completed its previously announced acquisition of the Ameritech Corp. wireless properties, located primarily in the Chicago and St. Louis areas.
“Once our merger with Bell Atlantic is completed, our wireless properties will complement the new national business being created by Bell Atlantic and Vodafone AirTouch … ” said GTE Chairman and Chief Executive Officer Charles R. Lee.
Lee said he expects to get Federal Communications Commission approval for the Bell Atlantic merger in the first quarter of next year.
GTE also reported its global wireless customer base increased 23 percent during the past year to 6.8 million, and during the third quarter, its wireless revenues grew by 21 percent to $163 million.
