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Short Take: SBC reports earnings

SBC Communications, which merged with Pacific Telesis effective April 1, reported combined results for the first quarter ending March 31. Revenues were $6.0 billion, up from $5.6 billion the same quarter a year ago. Net income was $857 million, or 94 cents per share, down from $888 million, or 96 cents per share, the same quarter a year ago.