CHICAGO (AP) _ Telephone & Data Systems Inc. (TDS) on Thursday reported third-quarter earnings of $18 million.
On a per-share basis, the Chicago-based company said it had profit of 15 cents.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The parent of U.S. Cellular and TDS Telecom posted revenue of $1.32 billion in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.3 billion.
TDS expects full-year revenue in the range of $5.08 billion to $5.23 billion.
TDS shares have dropped 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.11, a decline of 15% in the last 12 months.