Shares of U.S. Cellular’s parent company, Telephone & Data Systems (TDS), plunged following a gloomy fourth-quarter earnings report Friday. 

TDS reported overall losses of $832,000, or $0.01 per share, on $1.27 billion in total revenue in the final quarter of 2015.  That was better than a Thomas Reuters analyst poll that had forecast losses of $0.32 per share on $1.32 billion.  

TDS president and CEO, LeRoy T. Carlson, framed the results as progress. 

“U.S. Cellular completed deployment of its high-quality 4G LTE network, further enhancing its strong data capabilities,” Carlson said. “TDS Telecom successfully expanded its fiber and cable broadband networks. Both businesses generated improved financial results.”

Specifically, TDS said it’s on track to deploy fiber to approximately 25 percent of its customers’ homes by mid-year.

TDS reported an increase in total broadband subscribers to 117,000, but a drop in TV subscribers to 106,800. 

Overall residential wireline revenues came in at $73 million, which marked a decline of 1 percent.

Shares of TDS had rebounded some since the opening bell and were trading down just over 8.5 percent to $21.77 as of 10:19 a.m. CT.