- Telephone & Data Systems (NYSE:TDS) rose 1.1% following Q3 earnings where it saw a decline in revenues but saw a solid increase in cable connections due to Internet demand.
- Results again generally mirrored those at U.S. Cellular (USM), of which TDS holds a heavy majority. Revenues fell 5% and net income fell to $13M from a year-ago $51M.
- "TDS Telecom's wireline operations drove a significant increase in IPTV subscribers, which combined with growth in broadband data connections and customer demand for faster data speeds, generated higher residential revenues," said CEO LeRoy Carlson Jr.
- Aside from prepaid-boosted customer gains at U.S. Cellular, TDS Telecom saw wirelines residential connections rise 0.5% to 590,900; voice connections fell to 314,600 from 325,900, but broadband connections increased to 232,800 from 231,600, and IPTV jumped to 43,600 from 30,300. Residential revenue per connection rose to $44.25 from $42.83.
- In commercial, wireline connections fell to 334,000 from 345,600 (voice to 160,900 from 176,700; broadband to 21,700 from 23,000; and managedIP to 151,500 from 145,900). Cable connections jumped to 291,00 from 276,900, paced by strong broadband growth (to 130,200 from 114,600).
- Press Release