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TDS 1Q Net Down 14%, US Cellular Sees Net Customer Losses

DOW JONES NEWSWIRES Telephone & Data Systems Inc.'s (TDS) first-quarter profit dropped 14% as rising costs outpaced revenue gains, while its U.S. Cellular Corp.'s (USM) profit also declined on net customer losses. U.S. Cellular--which accounts for the bulk of TDS's revenue--has been losing postpaid subscribers due to increasing competition in a wireless industry nearly saturated with cellphones. Big carriers have continued to add customers on the strength of marquee handsets. TDS reported a profit of $41.6 million, or 40 cents a share, down from $48.4 million, or 45 cents a share, a year earlier. Revenue rose 3% to $1.26 billion. Analysts polled by Thomson Reuters most recently forecast a 40-cent profit on $1.24 billion in revenue. Operating expenses were up 4.6%. Physical access lines slid 5.5% from a year earlier and 1.3% from the prior quarter. Meanwhile, U.S. Cellular posted a profit of $34.1 million, or 40 cents a share, down from $47.4 million, or 54 cents a share, a year earlier. Revenue increased 3.2% to $1.06 billion. Wall Street had forecast earnings of 41 cents on $1.05 billion in revenue. Operating costs climbed 5.7% to $1 billion. The carrier, which operates in 26 states, said it lost a net 39,000 customers during the period, compared with a prior-year gain of 6,000. It ended the period with about 6 million customers, down 1.9% from a year earlier. Total average revenue per user increased 3.6% and postpaid churn--or turnover rate--dipped to 1.37% from 1.41%. About 43% of devices sold were smartphones, up from 17% a year earlier. TDS shares closed Thursday at $33.14 while U.S. Cellular finished at $48.50. Neither was active premarket. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for United States Cellular Corp (USM)
DateTimeHeadline
07/31/201508:55:39Quarterly Report (10-q)
07/31/201508:40:55Current Report Filing (8-k)
07/31/201507:50:00U.S. Cellular reports second quarter 2015 results
07/31/201507:00:00TDS and U.S. Cellular to release second quarter operating results...
07/23/201516:27:00TDS and U.S. Cellular to release second quarter operating results...
07/20/201512:12:34Amended Current Report Filing (8-k/a)
07/20/201510:17:00U.S. Cellular Teams Up with TV Personality Andrew Zimmern for...
07/16/201510:00:00U.S. Cellular Guarantees to Beat Verizon and AT&T Plans
06/15/201508:26:57Current Report Filing (8-k)
05/22/201513:43:29Statement of Changes in Beneficial Ownership (4)
05/22/201509:29:22Current Report Filing (8-k)
05/12/201511:20:21Statement of Changes in Beneficial Ownership (4)
05/11/201516:50:00TDS and U.S. Cellular To Webcast Annual Meetings of Shareholders
05/11/201506:01:38Notice of Effectiveness (effect)
05/05/201516:32:57Statement of Changes in Beneficial Ownership (4)
05/01/201508:59:16Securities Registration Statement (simplified Form) (s-3/a)
05/01/201508:46:55Quarterly Report (10-q)
05/01/201508:29:00Current Report Filing (8-k)
05/01/201507:43:00U.S. Cellular Reports First Quarter 2015 Results
04/28/201511:44:00TDS and U.S. Cellular to release first quarter operating results...

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