News

United States Cellular Reports Q2 Earnings

1 Mins read

United States Cellular, a wireless phone company, has announced its second-quarter earnings, falling short of analysts’ expectations. However, the company has witnessed higher revenue during this period.

Strategic Alternatives Considered for UScellular

The boards of directors of Telephone and Data Systems and United States Cellular have initiated discussions on exploring strategic alternatives for UScellular, leading to a temporary halt in premarket trading of UScellular shares at $17.50.

Quarterly Performance

In Q2, United States Cellular recorded earnings of $5 million, or 5 cents per share. This figure is lower than the earnings of $21 million, or 25 cents per share, reported in the same period last year. Analysts surveyed by FactSet were anticipating earnings of $17 million, or 9 cents per share.

The company’s revenue for the quarter totaled $957 million, compared to $1.03 billion in the previous year and the projected $993 million by analysts.

Customer Growth and Churn Reduction

UScellular achieved an 8% reduction in postpaid handset churn during the second quarter. Additionally, the company experienced a significant surge in Fixed Wireless customers, with a growth rate of 66% to 96,000.

Revised Revenue Guidance

The company has revised its service revenue guidance for 2023. The new estimate ranges from $3.05 billion to $3.15 billion, surpassing its earlier projection of $3.025 billion to $3.075 billion.

Related posts
News

Wealthy foreign crypto investors descend on President Trump's golf...

4 Mins read
Top-25 meme coin holders to enjoy private VIP reception with Trump *Best Forex Trading Robots For 2022 Democratic lawmakers demand attendee names,…
News

Chinese Firms' Plan to Avoid Stock Delisting: Buy Trump's Memecoin

1 Mins read
A technology company called GD Culture Group said on May 12 that it had struck a $300 million funding deal to help…
News

Dogecoin (DOGE) Realized Profits Soar 225% in 24 Hours

1 Mins read
Dogecoin (DOGE) is once again attracting attention in the crypto market following a massive increase in profits and activity lately. According to…

Leave a Reply

Your email address will not be published. Required fields are marked *