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Jun 30
TDS Q2 2025 Earnings Report
TDS reported Q2 2025 results with $1.186B in revenue and a narrowed net loss of $5M attributable to common shareholders.
Key Takeaways
Telephone and Data Systems posted $1.186B in Q2 2025 revenue, down 4% year-over-year, with improvements in profitability as net loss attributable to common shareholders narrowed to $5M from $14M last year. TDS Telecom grew fiber connections, while Array Digital Infrastructure saw growth in tower revenues but a decline in wireless revenues.
Total operating revenues fell 4% year-over-year to $1.186B.
Net loss attributable to common shareholders improved to $5M from $14M in Q2 2024.
TDS Telecom added 3,900 residential broadband connections, including 10,300 from fiber markets.
Array’s third-party tower revenues rose 12% year-over-year.
TDS
TDS
TDS Revenue by Segment
Revenue by Segment
Array (formerly UScellular) Revenue
CapyFin.comTDS Telecom Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
TDS Telecom maintained its 2025 revenue and adjusted EBITDA guidance, focusing on broadband expansion and fiber growth while Array Digital Infrastructure continues to optimize tower assets.
Positive Outlook
- Maintained 2025 guidance for TDS Telecom revenues and adjusted EBITDA.
- Continued broadband expansion with 27,000 new marketable fiber service addresses in Q2.
- Fiber connections grew by 10,300 net adds in Q2.
- Array’s third-party tower revenues up 12% year-over-year.
- Completion of $4.3B T-Mobile wireless asset sale positions Array for growth.
Challenges Ahead
- Overall company revenues declined 4% year-over-year.
- Wireless revenues at Array decreased 1% year-over-year.
- Operating income at TDS Telecom declined 27% year-over-year.
- Residential cable and copper broadband connections continue to decline.
- Pending spectrum transactions subject to regulatory approval.