Array Digital Infrastructure (NYSE:USM), formerly known as United States Cellular Corporation, saw its shares climb 4.38% in pre-market trading Monday after reporting second-quarter earnings that topped analyst forecasts and completing the $4.3 billion sale of its wireless business to T-Mobile.
For the quarter, Array posted earnings per share of $0.36, ahead of the $0.30 consensus estimate. Revenue totaled $916 million, beating expectations of $907.63 million, though still down 1.2% from $927 million in the same period a year earlier.
The company’s transition from a wireless carrier to a tower-focused infrastructure firm marks a major strategic shift. Following the closure of the T-Mobile transaction on August 1, Array announced a special cash dividend of $23.00 per share, payable August 19, 2025.
“I am pleased that we have successfully closed the T-Mobile deal and have declared a special dividend in connection with the transaction,” said interim President and CEO Doug Chambers. “As a tower company with 4,400 towers and a new Master License Agreement with T-Mobile, Array has strength and stability from its current tower revenue stream, along with an excellent opportunity to grow colocations and revenues.”
Tower operations showed solid momentum, with third-party tower revenue rising 12% year-over-year. Net income surged to $31 million, or $0.36 per share, up from $17 million, or $0.20 per share, in last year’s second quarter—an 80% increase.
As part of its ongoing transformation, Array is withholding full-year 2025 guidance. The company still has pending spectrum sales to AT&T (NYSE: T) and Verizon (NYSE: VZ), expected to close in the second half of 2025 and the third quarter of 2026, respectively, subject to regulatory approval.
Array Digital Infrastructure stock price
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