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. Last Updated: 07/27/2016

MCI Profits Up

NEW YORK -- MCI WorldCom Inc., the long-distance telephone company set to buy smaller rival Sprint Corp., said Thursday its first-quarter profits rose about 80 percent, just ahead of Wall Street expectations.

MCI WorldCom, the No. 2 U.S. long-distance telephone company, said net income in the quarter was $1.3 billion or 44 cents a share, compared with $712 million, or 24 cents a year ago. The results topped Wall Street expectations of 43 cents a share, according to research firm First Call/Thomson Financial.