TDS, U.S. Cellular Slide — Communications Services Roundup
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Dow Jones
Communications services took a hit. Shares of Telephone & Data Systems as well as its separately traded subsidiary U.S. Cellular both fell after they reported fourth-quarter results. TDS's fourth-quarter results were dragged down by a $547 million non-cash goodwill impairment charge taken as part of an annual goodwill assessment. TDS's performance was also stung by a loss of postpaid phone subscribers at U.S. Cellular in the quarter.
Verizon, AT&T and T-Mobile ended down less than 1% each.
Write to Mary de Wet at mary.dewet@dowjones.com
(END) Dow Jones Newswires
February 16, 2024 16:56 ET (21:56 GMT)
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