UNITED STATES CELLULAR CORP
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
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Operational Overview
| As of March 31, | 2024 | 2023 |
|---|---|---|
| Retail Connections – End of Period | ||
| Postpaid | 4,051,000 | 4,223,000 |
| Prepaid | 436,000 | 470,000 |
| Total | 4,487,000 | 4,693,000 |
| Q1 2024 | Q1 2023 | Q1 2024 vs. Q1 2023 | |
|---|---|---|---|
| Postpaid Activity and Churn | |||
| Gross Additions | |||
| Handsets | 63,000 | 93,000 | (32)% |
| Connected Devices | 43,000 | 44,000 | (2)% |
| Total Gross Additions | 106,000 | 137,000 | (23)% |
| Net Additions (Losses) | |||
| Handsets | (47,000) | (25,000) | (88)% |
| Connected Devices | 3,000 | 1,000 | N/M |
| Total Net Additions (Losses) | (44,000) | (24,000) | (83)% |
| Churn | |||
| Handsets | 1.03% | 1.06% | |
| Connected Devices | 2.52% | 2.78% | |
| Total Churn | 1.22% | 1.27% | |
Total postpaid handset net losses increased for the three months ended March 31, 2024, when compared to the same period last year due to lower gross additions as a result of continued aggressive industry-wide competition and a decrease in the pool of available customers.
Total postpaid connected device net additions increased for the three months ended March 31, 2024, when compared to the same period last year due to higher demand for fixed wireless home internet as well as a decrease in hotspot churn.
UScellular decommissioned its 3G Code Division Multiple Access (CDMA) network in the first quarter of 2024. Total net additions (losses) for the three months ended March 31, 2024 exclude a one-time adjustment to remove 11,000 connections that were dependent on the CDMA network.
Postpaid Revenue
| Three Months EndedMarch 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2024 vs. 2023 | |
| Average Revenue Per User (ARPU) | $51.96 | $50.66 | 3 % |
| Average Revenue Per Account (ARPA) | $132.00 | $130.77 | 1 % |
Postpaid ARPU increased for the three months ended March 31, 2024, when compared to the same period last year, due to a decrease in promotional discounts, an increase in cost recovery surcharges, favorable plan and product offering mix, and an increase in device protection plan revenues.
Postpaid ARPA increased slightly for the three months ended March 31, 2024, when compared to the same period last year, due to the impacts to Postpaid ARPU, partially offset by a decrease in the number of connections per account.
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