U.S. Markets open in 1 hr 8 mins

TDS: 1Q Earnings Snapshot

CHICAGO (AP) _ Telephone & Data Systems Inc. (TDS) on Thursday reported first-quarter profit of $59 million.

The Chicago-based company said it had net income of 50 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The parent of U.S. Cellular and TDS Telecom posted revenue of $1.26 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.27 billion.

TDS shares have dropped slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32.45, a rise of 19% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TDS at https://www.zacks.com/ap/TDS