U.S. Cellular: 2Q Earnings Snapshot
CHICAGO (AP) _ United States Cellular Corp. (USM) on Thursday reported second-quarter profit of $31 million.
On a per-share basis, the Chicago-based company said it had profit of 35 cents.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The wireless telecommunications service provider posted revenue of $973 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1 billion.
U.S. Cellular expects full-year revenue in the range of $3.9 billion to $4.1 billion.
U.S. Cellular shares have dropped 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.09, a climb of 34% in the last 12 months.