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U.S. Cellular +2.7% on added customers, revenue beat

Aug. 04, 2017 4:33 PM ETUnited States Cellular Corporation (USM) StockBy: Jason Aycock, SA News Editor
  • U.S. Cellular (NYSE:USM) rose 2.7% after Q2 earnings where profits fell short but revenues declined less than expected.
  • Net postpaid subs reversed course with a gain of 23,000, bringing the total to 4.478M. In prepaid service, the company added a net 3,000 customers to hit 484,000.
  • Revenue breakout: Service, $740M (down 4%); Equipment sales, $223M (up 2%).
  • Postpaid ARPU fell to $44.60, down from a year-ago $47.37 and last quarter's $45.42. Churn rate fell to 1.13% from the year-ago 1.20% and last quarter's 1.29%.
  • Prepaid ARPU fell as well, to $33.52 from a year-ago $34.58 and last quarter's $33.66. Churn rate was 4.93%; a year ago it was 4.86%, and last quarter had risen to 5.69%.
  • It's reiterating full-year guidance: for operating revenues of $3.8B-$4B (vs. consensus for $3.85B), adjusted EBITDA of $700M-$800M (above expectations for $649.9M) and capex of about $500M.
  • Press Release

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