TDS Telecom (NYSE: TDS), the wireline subsidiary of Telephone and Data Systems, Inc., reported that wireline revenues climbed to $234.5 million due to additions of more residential IPTV subscribers and managed business service customers.
"In addition to completing the recent cable and HMS acquisitions, TDS Telecom had continued growth in residential IPTV and commercial managedIP connections," said LeRoy T. Carlson, Jr., TDS president and CEO, in the earnings release. "A combination of revenue growth and cost reductions helped to improve TDS Telecom's profitability in the quarter."
During the quarter, it added 1,700 new IPTV subscribers and 9,000 managedIP subscribers. However, it lost 2,200 video subscribers and 5,800 residential voice subscribers.
Managed service continues to be a major growth target for the company. The service provider continues to pursue a set of organic and inorganic activities to grow this business segment, including its recent $40 million acquisition of MSN Communications.
From an overall financial perspective, TDS Telecom's parent company Telephone and Data Systems, Inc. reported revenues of $1.18 billion, up from $1.37 billion in Q3 2012.
Shares of TDS were listed at $30.13, down $1.05, or 3.37 percent in late Friday morning trading on the New York Stock Exchange.
- see the earnings release
Earnings summary: Wireline telecom earnings in the third quarter of 2013
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