Regional cell phone company U.S. Cellular Corp. on Thursday said its fourth-quarter net income and revenue were flat with a year ago, as it continued to lose subscribers.
The company’s net income came to $6.8 million, or 8 cents per share, compared with $6.6 million, or 8 cents per share, a year earlier.
However, the company posted an operating loss for the latest quarter, for the first time in at least two years, on subscriber losses and increasing subsidies for smart phones. The net income was aided by lower interest expenses and a tax benefit for $7.3 million.
Revenue was $1.063 billion, compared with $1.060 billion a year ago.
Analysts were expecting earnings of 8 cents per share on $1.07 billion in revenue.
U.S. Cellular shares rose $1.38 to $48.09 in afternoon trading.
