12 Best Telecom Stocks To Invest In Now

5. Telephone and Data Systems Inc. (NYSE:TDS)

Number of Hedge Fund Holders: 31

Telephone and Data Systems Inc. (NYSE:TDS) is a telecommunications company operating in the US through its UScellular and TDS Telecom segments. UScellular focuses on wireless services, while TDS Telecom offers a variety of communication solutions for residential and business customers.

Its Telecom segment’s performance in Q3 2024 was driven by the addition of 32,000 new marketable fiber addresses, bringing the year-to-date total to 87,000 at the end of the quarter. This puts the company on track to achieve its annual goal of 125,000 new fiber addresses. This expansion translated into a 4% year-over-year growth in total residential broadband connections. Furthermore, residential revenues experienced a significant 5% increase during the quarter.

These results underscore the importance of the company’s fiber broadband initiative. This successful execution of the fiber strategy positions Telephone and Data Systems Inc. (NYSE:TDS) for continued growth.