U.S. Cellular Corp. (USM) Misses Q3 EPS by 17c; Boosts FY12 Outlook; to Sell Spectrum to Sprint (S)

November 7, 2012 7:37 AM EST
U.S. Cellular Corp. (NYSE: USM) reported Q3 EPS of $0.42, $0.17 worse than the analyst estimate of $0.59. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.12 billion.

U.S. Cellular Corp. sees FY2012 revenue of $4.075-4.125 billion, versus prior guidance of $4.505-4.150 billion and the consensus of $4.43 billion.

In a separate release, U.S. Cellular also announced today two strategic actions designed to increase focus on markets where it has strong positions and streamline operations to increase overall efficiency and effectiveness. The company has entered into a definitive agreement with Sprint (NYSE: S), who will purchase its customers and PCS spectrum in certain Midwest markets. U.S. Cellular will also transition the operations of its Bolingbrook, Ill., customer care center to an existing vendor partner. Further information can be found on the U.S. Cellular Investor Relations website.

For earnings history and earnings-related data on U.S. Cellular Corp. (USM) click here.

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