Telephone And Data Systems Reports Loss For Q2 - Quick Facts

(RTTNews) - Chicago-based telecom company Telephone and Data Systems, Inc. (TDS), Friday reported a net loss for the second quarter, compared with profit last year, amid weak revenue growth and significantly higher operating expenses. Loss was also wider than analysts' estimates, while revenues beat them.

For the three months to June, net loss totaled $22.05 million or $0.20 per share, compared with net profit of $156.06 million or $1.42 per share a year earlier.

On average, three analysts polled by Thomson-Reuters estimated the company's loss to be $0.16 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly operating revenues were $1.24 billion, up slightly from $1.23 billion last year, above the $1.20 billion Wall Street expected.

In United States Cellular Corp., at the end of 3-month period, total number of customers slid to 4.65 million from 4.97 million in the same period last year.

Postpaid customers declined to 4.15 million from 4.41 million last year, while prepaid customers decreased to 352,000 from 381,000 last year.

For the full-year, the company expects operating revenues of $4.97 billion to $5.12 billion, whereas analysts expect the company to report revenues of $4.81 billion.