United States Cellular Corp Q2 Profit Surges - Quick Facts

(RTTNews) - United States Cellular Corporation(USM), Friday reported an increase in second-quarter net income, backed by a gain from the sale of its Chicago, St. Louis, central Illinois and three other markets.

Net income attributable to U.S. Cellular shareholders was $143.3 million to $1.69 per share, including a pre-tax gain of $266.4 million with regard to the sale. This compares with $52.6 million or $0.62 million per share during the same quarter last year.

On average, six analysts polled by Thomson Reuters expected earnings per share of $0.12 for the quarter. Analysts' estimates typically exclude one-time items.

Total operating revenues for the three-month period decreased 10 percent to $995 million from $1.10 billion last year. The Street estimated the company to report revenues of $1.02 billion for the quarter.

For the year, the company now expects to report service revenues of $3.6 billion -$3.7 billion, and adjusted income before income taxes of $600 million -$700 million.