U.S. Cellular: 2Q Earnings Snapshot
CHICAGO (AP) _ United States Cellular Corp. (USM) on Friday reported second-quarter net income of $49 million.
The Chicago-based company said it had profit of 56 cents per share. Earnings, adjusted for non-recurring gains, were 47 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The wireless telecommunications service provider posted revenue of $974 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $960.6 million.
U.S. Cellular shares have fallen almost 6 percent since the beginning of the year. The stock has declined slightly more than 8 percent in the last 12 months.