NYNEX earnings jump

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NYNEX today announced a 13.6 percent increase in third quarter 1995 net income to $366.8 million from third quarter 1994 net income of $323 million. Consolidated revenues for the third quarter were up 4.9 percent to $3.3 billion. Telecommunications revenues were up 4.3 percent to $3.0 billion, and total revenues from other business units increased 11.4 percent. New market initiatives for the company include Indonesian wireless partnership with 195 million potential customers; expansion of NYNEX Interactive Yellow Pages to list businesses nationwide; selection by TELE-TV of set-top box provider for wireless television services; and a NYNEX-IBM alliance to develop next-generation busiess network architecture and services.

Copyright October 1995 Crain Communications Inc.

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