SAN FRANCISCO — Pacific Telesis Group on Thursday reported an 8.8% gain in third-quarter net income to $310.3 million, citing tight expense controls.
The diversified telecommunications concern, the parent of Pacific Bell Telephone, said its revenue inched up 0.9% to $2.33 billion. During the quarter, however, PacTel's maintenance and repair costs fell 11% and its interest expense was down 6.5%.
Donald E. Guinn, chairman and chief executive, noted that 176,000 customer lines were added during the three-month period as a result of healthy economies in California and Nevada.
He called the third-quarter results "our best ever quarterly earnings picture."
Net income for the first nine months of 1987 rose 0.8% to $848.5 million on a 0.3% increase in revenue to $6.81 billion.