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CHICAGO (AP) — CHICAGO (AP) — Telephone & Data Systems Inc. (TDS) on Friday reported fourth-quarter net income of $6 million.
On a per-share basis, the Chicago-based company said it had net loss of 10 cents. Losses, adjusted for asset impairment costs, were 9 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.
The parent of U.S. Cellular and TDS Telecom posted revenue of $1.24 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $1.23 billion.
For the year, the company reported a loss of $28 million, or 85 cents per share. Revenue was reported as $4.96 billion.
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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 TDS at https://www.zacks.com/ap/TDS