Last week saw a number of telecom companies posting strong quarterly results. However, this could not cheer investors, as stocks of most telecom majors lost value.

Wireless Tower operators American Tower Corp. AMT and SBA Communications Corp. SBAC, regional telecom operator Cincinnati Bell Inc. CBB and mobile chipset behemoth Qualcomm Inc. QCOM, reported strong financial results wherein both the top line and the bottom line outpaced the Zacks Consensus Estimate.

Outside the U.S., Canadian telecom giant Shaw Communications Inc. SJR reported mixed results in the third quarter of 2017. While the top line missed the Zacks Consensus Estimate, the bottom line surpassed the same. On the other hand, Spanish telecom behemoth Telefonica SA TEF reported strong financial results in the third quarter of 2017, wherein both the top line and the bottom line grew year over year.

American Tower exited third-quarter 2017 with a total of 147,873 towers of which 39,764 are domestic and 108,109 are international towers. Similarly, SBA Communications exited third-quarter 2017 with a total of 26,764 towers of which 15,959 are domestic and 10,815 are international towers.

At the end of the third quarter of 2017, Cincinnati Bell had 0.1876 million residential voice lines, declining 8.4% year over year and 0.3240 million business voice lines, increasing 1.6% year over year. Long distance lines were 0.2991 million, reflecting a decline of 7.6%. DSL Internet subscribers were 0.0867 million, down 24.1%. Fioptics Internet customers were 0.2212 million, reflecting an increase of 19.2%. Fioptics video subscribers were 0.1435 million, increasing 7.6% year over year.

In the reported quarter, Qualcomm shipped approximately 220 million CDMA-based MSM (Mobile Station Modem) chipsets, reflecting an increase of 4.1% year over year. This also came in above the midpoint of 215 million, which was the fourth-quarter chipset outlook given by management earlier. The company is currently engaged in serious royalty related battle with Apple Inc. AAPL. Apple currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.