American Telephone & Telegraph Corp., which reports its results both on a calendar and a fiscal year basis, said yesterday it earned $1.93 a share in the three months ended Feb. 29, up from $1.89 a year earlier.

Net income was $1.4 billion on revenues of $11.88 billion compared with $1.31 million a year earlier on revenues of $10.68 billion. The gain was 7.1 percent.

The average number of shares outstanding was 705.24 million compared with 672.2 million a year earlier. AT&T is the most widely held company in the nation and the nation's No. 1 utility.

For the year ended Feb. 29, AT&T earned $5.71 billion ($8.02 a share) on revenues of $46.243 billion compared with $5.35 billion ($7.81) on sales of $41.72 billion.

Pillsbury Co. said earnings rose 28.5 percent to $19.8 million (99 cents) for the third fiscal quarter as sales jumped 57.1 percent to $751 million.

The packaged-food manufacturer, which has sizable interests in the restaurant business, reported profits of $15.4 million (88 cents) on sales of $478 million in the same period in fiscal 1979.

For the first nine months of fiscal 1980, Pillsbury said profits totaled $79.2 million ($3.96) up 29 percent from $61.4 million ($3.51) in the same period last year. Sales climbed 52 percent to $2.2 billion from $1.4 billion. p

The fiscal 1979 results did not include sales and earnings of Green Giant, which merged with Pillsbury on Feb. 28, 1979.

Chairman William Spoor said earnings from Pillsbury's restaurants and agri-products business were greater than the profit gains from consumer foods. Burger King, the largest of Pillsbury's restaurant chains with 2,620 units, reported a 6 percent gain in average volume per restaurant for the quarter, after adjusting for inflation.