Telephone and Data Systems Reports Lower Revenue in Q4

Financial Performance

TDS experienced a loss of $523 million, or $4.64 per share, in the fourth quarter. This is in comparison to a loss of $43 million, or 38 cents per share, during the same period in the previous year. However, after excluding a non-cash charge of $547 million for goodwill impairment recorded at TDS Telecom, the adjusted loss was 11 cents per share. Analysts surveyed by FactSet had expected a slightly higher loss of 12 cents per share.

TDS' operating revenue witnessed a decrease of more than 3%, totaling $1.31 billion. Nevertheless, it exceeded analysts' expectations, which had projected revenue of $1.28 billion. The revenue at U.S. Cellular dropped 5% to $1 billion, while TDS Telecom sales saw a 2% increase.

Future Projections

Despite the challenges faced in the fourth quarter, TDS is optimistic about its future performance. It has set a target service revenue range of $2.95 billion to $3.05 billion for U.S. Cellular in 2024. This comes after the company reported service revenue of $3.04 billion in 2023. Additionally, TDS aims to achieve annual operating revenue of $1.07 billion to $1.1 billion for TDS Telecom, compared to $1.03 billion in 2023.

TDS' ongoing efforts to adapt and thrive in the evolving telecommunications landscape demonstrate its commitment to continued growth and success.