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U.S. Cellular: 3Q Earnings Snapshot

·1 min read

CHICAGO (AP) _ United States Cellular Corp. (USM) on Thursday reported third-quarter net income of $85 million.

The Chicago-based company said it had profit of 97 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The wireless telecommunications service provider posted revenue of $1.03 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $996.6 million.

U.S. Cellular shares have declined 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.09, a decline of 16% in the last 12 months.

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