Telephone and Data Systems Up 4.1% To $19.82 After Earnings

Telephone and Data Systems (TDS) said before open Friday that it broke even in quarter three 2023.

In the same quarter a year ago, the company lost $0.22 per share on revenue of $1.4 billion.

The stock is up 4.1% to $19.82 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Telephone and Data Systems a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 68. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Telephone and Data Systems Inc is a diversified telecommunications operator that provides mobile, telephone, and broadband services to approximately 6 million customers. The firm's mobile operations are conducted by its 81%-owned subsidiary, U.S. Cellular, which serves nearly 5 million wireless customers. The firm's wireline operations are conducted by its wholly owned subsidiary, TDS Telecom, which services nearly 1 million phone and Internet access lines in predominantly rural and suburban areas.