Telephone & Data Systems Inc. ( (TDS) ) has released its Q3 earnings. Here is a breakdown of the information Telephone & Data Systems Inc. presented to its investors.
Telephone and Data Systems, Inc. (TDS) is a telecommunications company providing wireless, broadband, video, and voice services across the United States through its subsidiaries, UScellular and TDS Telecom. Headquartered in Chicago, TDS serves approximately 6 million connections nationwide.
In its third-quarter 2024 earnings report, TDS announced a decrease in total operating revenues to $1,224 million, down from $1,278 million in the same quarter the previous year. The company faced a significant net loss attributable to common shareholders, primarily due to a $136 million impairment of UScellular’s wireless spectrum licenses.
Key highlights from the report include UScellular’s sale of select spectrum assets to Verizon for $1 billion and improved wireless operating results, despite a decline in service revenues. TDS Telecom achieved a milestone with 50% of its service addresses now served with fiber, contributing to a 5% growth in residential revenue and a 4% increase in broadband connections.
Looking forward, TDS is continuing its strategic focus on optimizing its portfolio, with plans to sell additional spectrum assets and expand its fiber infrastructure. The company aims to balance subscriber growth with financial discipline as it navigates the evolving telecommunications landscape.
