Telephone and Data Systems (TDS) announced third-quarter 2009 earnings per share of 33 cents, which fell behind the Zacks Consensus Estimate of 47 cents and the year-ago quarter EPS of 87 cents. Net income (attributable to TDS) tumbled 65% year over year to $35.6 million as profit dipped at the company's wireless subsidiary U.S. Cellular (USM).

The Chicago-based company reported operating revenue of $1,258.7 million, reflecting a 4% year over year drop as a result of declines across its wireless and wireline businesses.

U.S. Cellular (Wireless)

Net income sank 60% year over year to $35.6 million, due to lower revenue and increased operating expenses. Operating revenue declined 3% over the prior-year quarter to $1,058 million as a result of a 3% year over year decline in service revenues that registered $984.9 million in the quarter. The unit continues to experience lower roaming revenue, offset by healthy data revenue growth (up

...

AT&T (T) announced its 3G network upgrade plans yesterday as the US telecom giant targets to increase network throughput across six US cities by the end of 2009. The company will launch 3G services in Charlotte, Chicago, Dallas, Houston, Los Angeles and Miami, which will enable theoretical download speeds of up to 7.2 megabits per second (Mbps). This will effectively double the existing downlink speed of 3.6 Mbps.   By upgrading its 3G network using the HSPA 7.2 technlogy, AT&T will offer practical average downlink speeds of 3 Mbps to 4 Mbps with peak speed may reach up to 5.5 Mbps. The company targets to deploy the HSPA 7.2 based network in 25 of the largest US cities by the end of 2010, with plans to cover roughly 90% of its 3G network footprint by 2011. AT&T’s extensive nationwide 3G network has already covered around 350 U.S. ...