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. Last Updated: 07/27/2016

AirTouch Profits Up

NEW YORK -- AirTouch Communications Inc., the U.S. wireless phone company set to be acquired by Britain's Vodafone Group PLC, on Thursday reported a 34 percent increase in fourth-quarter profits, driven by strong subscriber growth internationally.

San Francisco-based AirTouch, the world's largest independent wireless company, earned $130 million, or 22 cents a share, compared with profits of $97 million, or 19 cents a share, a year ago. The results beat Wall Street's earnings expectations of 18 cents a share, according to First Call, which tracks earnings estimates.

Fourth-quarter revenues increased almost 55 percent to $1.5 billion, up from $941 million a year ago.