Welcome to our dedicated page for Telephone and Data Systems news (Ticker: TDS), a resource for investors and traders seeking the latest updates and insights on Telephone and Data Systems stock.
Telephone and Data Systems Inc. reports news around its broadband and wireless infrastructure businesses, primarily TDS Telecom and Array Digital Infrastructure. Recurring updates cover operating results, fiber broadband expansion, tower leasing activity, spectrum-related asset actions, and the company’s capital structure.
TDS announcements also include dividends on common and preferred securities, material agreements, executive appointments, governance matters, and investor presentations. The company’s news reflects its transformation from a broader telecom operator toward broadband services and shared wireless infrastructure.
TDS Telecom reported strong financial results in its first quarter earnings report, with a 5% increase in total operating revenues and profitability. The company surpassed 100,000 residential broadband connections in its expansion markets and added 28,000 marketable fiber service addresses. TDS Telecom is on track to reach its goal of 125,000 addresses for the year, with total service addresses growing by 12% year over year. The company is making progress on its long-term fiber strategy, aiming for 1.2 million marketable fiber service addresses and speeds of 1 Gig or higher to at least 80% of its footprint. Demand for higher broadband speeds is increasing, with 78% of customers taking 100 Mbps or greater. TDS Telecom saw a 6% growth in residential broadband connections year-over-year and a 10% increase in total residential revenue.
Telephone and Data Systems, Inc. (TDS) secured a $375 million unsecured debt financing with Oaktree Capital Management, L.P. The funds will be used for TDS Telecom's fiber build program to reach 1.2 million marketable fiber service addresses. The transaction maintains TDS' low-cost, long-dated capital structure with a slight increase in cost of debt and preferred equity. The 5-year loan offers flexibility for early repayment and interest at SOFR +7%.
Telephone and Data Systems, Inc. (NYSE:TDS) reported total operating revenues of $1,262 million for the first quarter of 2024, with net income of $12 million and diluted earnings per share of $0.10. UScellular saw a decrease in service revenues but growth in postpaid ARPU and significant improvements in profitability. TDS Telecom had strong revenue and profitability growth due to broadband investments, exceeding 100,000 residential broadband connections in expansion markets.
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