UScellular Q2 revenue down 7% to $957M; TDS initiates strategic alternatives review

ARRAY DIGITAL INFRASTRUCTURE, INC.

Total operating revenues $957M in Q2 2023, down from $1,027M in Q2 2022; service revenues $760M vs $783M.
Net income $5M ($0.05 diluted EPS) vs $21M ($0.25) a year ago.
Fixed wireless customers grew 66% to 96,000; tower rental revenues up 10%.
TDS and UScellular boards initiate process to explore strategic alternatives; Citi retained as financial advisor.
2023 guidance: service revenue lowered to $3.025-3.075B; adjusted EBITDA raised to $925-1,025M.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ARRAY DIGITAL INFRASTRUCTURE, INC. reported the second quarter of 2023 results: revenue $957 million, net income $5 million, EPS $0.05. Guidance reaffirmed.

Period: the second quarter of 2023
Revenue: $957 million
Net income: $5 million
EPS: $0.05
Guidance: reaffirmed
Result: reported results

Exact text from the filing

United States Cellular Corporation (NYSE:USM) reported total operating revenues of $957 million for the second quarter of 2023, versus $1,027 million for the same period one year ago. Service revenues totaled $760 million, versus $783 million for the same period one year ago. Net income attributable to UScellular shareholders and related diluted earnings per share were $5 million and $0.05, respectively, for the second quarter of 2023 compared to $21 million and $0.25, respectively, in the same period one year ago.

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Source: SEC EDGAR

accession 0000821130-23-000042

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