CHICAGO (AP) _ Telephone & Data Systems Inc. (TDS) on Thursday reported first-quarter earnings of $69 million.

On a per-share basis, the Chicago-based company said it had net income of 59 cents.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The parent of U.S. Cellular and TDS Telecom posted revenue of $1.26 billion in the period.

TDS shares have decreased 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.51, a drop of 39% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TDS at https://www.zacks.com/ap/TDS

Automated Insights, source Associated Press News