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TDS’ 3Q Profit Plummets – Analyst Blog
Zacks Market Commentaries (November 6th, 2009) Writes:
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
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3g, 3g Network, 4G wireless technology, AT&T, broadband, Chicago, faster broadband services, Internet phone service offerings, Investing Lessons, Stocks to Watch, TDS Telecom, the Chicago;, United States, US Cellular, USD, Verizon, wireless network, wireless segment remains, wireless segment;, wireless substitution trend, Zacks Market Commentaries
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