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Short Take: GTE earnings up

GTE announced net income for its first quarter was $665 million, or 69 cents per share, compared with $608 million, or 62 cents per share, in the first quarter of 1996, thanks to strength in core wireline and wireless operations as well as positive response to the company's new service offerings, such as long distance, video and Internet access, and wireless digital PCS. Revenue grew to $5.28 billion, from $4.95 billion in the year-ago quarter.

GTE announced net income for its first quarter was $665 million, or 69 cents per share, compared with $608 million, or 62 cents per share, in the first quarter of 1996, thanks to strength in core wireline and wireless operations as well as positive response to the company's new service offerings, such as long distance, video and Internet access, and wireless digital PCS. Revenue grew to $5.28 billion, from $4.95 billion in the year-ago quarter.