TDS Q2 Profit Jumps; Ups 2013 Adj. Operating Revenue View; To Buy Back Shares

(RTTNews) - Telephone and Data Systems Inc.'s (TDS) second-quarter 2013 net income attributable to TDS shareholders surged to $156.1 million, or $1.42 per share, from $42.3 million, or $0.39 per share, in the comparable period one year ago.

However, the firm recorded operating revenues of $1.23 billion for the quarter, versus $1.32 billion last year, a decrease of 7%.

On average, 3 analysts polled by Thomson Reuters expected earnings per share of $0.15, on $1.24 billion of revenue for the quarter. Analysts' estimates typically exclude one-time items.

For 2013, TDS now sees adjusted operating revenues in the range of $4,550 million - $4,690 million, versus its prior range of $4,515 million - $4,685 million. In addition, the board has authorized a $250 million share repurchase program, with no expiration date.