
<PAGE>
 
                                                                      Exhibit 11
                                                                          1 of 2

                   BELL ATLANTIC CORPORATION AND SUBSIDIARIES
                    Computation of Per Common Share Earnings
                (Dollars in Millions, Except Per Share Amounts)

<TABLE>
<CAPTION>
 
                                               Three months ended September 30, 
                                               -------------------------------- 
                                                   1995                1994
                                               ------------        ------------ 
<S>                                            <C>                 <C> 
                                                                                
Income before extraordinary item.............  $      604.8        $      275.7 
Extraordinary item...........................            --            (2,150.0)
                                               ------------        ------------
Net income (loss)............................  $      604.8        $   (1,874.3)
                                               ============        ============
                                                                   
                                                                   
Earnings Per Common Share                                          
- -------------------------                                          
Weighted average shares outstanding..........   436,752,818         436,286,739
Incremental shares from assumed exercise of                        
  stock options and payment of performance                         
  share awards...............................     1,737,633           1,016,494
                                               ------------        ------------
Total shares.................................   438,490,451         437,303,233
                                               ============        ============
                                                                  
Income before extraordinary                                       
  item.......................................  $       1.38        $        .63
Extraordinary item...........................            --               (4.92)
                                               ------------        ------------
Net income (loss)............................  $       1.38        $      (4.29)
                                               ============        ============
                                                                  
                                                                  
Fully Diluted Earnings Per Common Share*                          
- ----------------------------------------                          
Weighted average shares outstanding..........   436,752,818         436,286,739
Incremental shares from assumed exercise of                       
  stock options and payment of performance                        
  share awards...............................     2,154,589           1,016,494
                                               ------------        ------------
Total shares.................................   438,907,407         437,303,233
                                               ============        ============
                                                                  
Income before extraordinary item.............  $       1.38        $        .63
Extraordinary item...........................            --               (4.92)
                                               ------------        ------------
Net income (loss)............................  $       1.38        $      (4.29)
                                               ============        ============
 
</TABLE>

 *  Fully diluted earnings per share calculation is presented in accordance with
    Regulation S-K item 601(b)(11) although not required by footnote 2 to
    paragraph 14 of Accounting Principles Board Opinion No. 15 because it
    results in dilution of less than 3%.
<PAGE>
 
                                                                      Exhibit 11
                                                                          2 of 2

                   BELL ATLANTIC CORPORATION AND SUBSIDIARIES
                    Computation of Per Common Share Earnings
                (Dollars in Millions, Except Per Share Amounts)
<TABLE>
<CAPTION>
 
                                               Nine months ended September 30, 
                                               ------------------------------- 
                                                   1995               1994     
                                               ------------       ------------ 
<S>                                            <C>                <C>          
                                                                               
Income before extraordinary items............  $    1,466.4       $    1,087.0 
Extraordinary items..........................            --           (2,156.7) 
                                               ------------       ------------ 
Net income (loss)............................  $    1,466.4       $   (1,069.7) 
                                               ============       ============ 
                                                                               
                                                                               
Earnings Per Common Share                                                      
- -------------------------                                                      
Weighted average shares outstanding..........   436,549,985        436,277,798 
Incremental shares from assumed exercise of                                    
  stock options and payment of performance                                     
  share awards...............................     1,318,864            984,909 
                                               ------------       ------------ 
Total shares.................................   437,868,849        437,262,707 
                                               ============       ============ 
                                                                               
Income before extraordinary items............  $       3.35       $       2.49 
Extraordinary items..........................            --              (4.94) 
                                               ------------       ------------ 
Net income (loss)............................  $       3.35       $      (2.45) 
                                               ============       ============ 
                                                                               
                                                                               
Fully Diluted Earnings Per Common Share*                                       
- ----------------------------------------                                       
Weighted average shares outstanding..........   436,549,985        436,277,798 
Incremental shares from assumed exercise of                                    
  stock options and payment of performance                                     
  share awards...............................     1,517,211          1,057,664 
                                               ------------       ------------ 
Total shares.................................   438,067,196        437,335,462 
                                               ============       ============ 
                                                                               
Income before extraordinary items............  $       3.35       $       2.49 
Extraordinary items..........................            --              (4.94) 
                                               ------------       ------------ 
Net income (loss)............................  $       3.35       $      (2.45) 
                                               ============       ============  
</TABLE>


 *  Fully diluted earnings per share calculation is presented in accordance with
    Regulation S-K item 601(b)(11) although not required by footnote 2 to
    paragraph 14 of Accounting Principles Board Opinion No. 15 because it
    results in dilution of less than 3%.
