United States Cellular Corporation (USM) shares jumped 8.02% in pre-market trading on Friday, following the company's fourth-quarter and full-year 2024 earnings release. The telecom company's stock soared as investors reacted positively to its announced transactions related to the sale of wireless operations and spectrum assets.
While USM reported declines in revenue for both Q4 and the full year of 2024, the company's strategic alternatives review and subsequent deals with T-Mobile, Verizon, AT&T, and others for the sale of its wireless business and spectrum licenses appear to have boosted investor sentiment.
Highlights from USM's earnings report include:
While the company's financial performance was mixed, investors seem to be focusing on the potential value unlocked by the planned sale of its wireless business and spectrum assets. The transactions are expected to provide a significant boost to USM's financials and potentially pave the way for a pivot to new growth opportunities.
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