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July 22, 1990

AT&T BLAMES LOWER DOMESTIC PRODUCT SALES

By CBR Staff Writer

Commenting on the 6% fall in profits and 2.5% fall in turnover for its second quarter (p5), AT&T Co blamed lower domestic product sales in some of its businesses due to market conditions and a sluggish economy, and to higher start-up costs and expenses for the AT&T Universal Card resulting from unprecedented demand: it still expects 1990 to be better than 1989, which was a record earnings year.

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