Lumen Beats Q2 Revenue Estimates, Strategic Revenue Jumps 14%
LUMN sits 89% above its 52-week low of $3.61.
Summary
Lumen Technologies reported solid second quarter results, posting revenue of $2.81B, which topped the $2.77B consensus. This performance was driven by a 14% surge in higher-margin strategic revenue, now comprising 53% of business revenue. The company also reported an adjusted loss per share of 7 cents, half the expected 14-cent loss. Lumen reaffirmed its full-year outlook for adjusted EBITDA of $3.1B-$3.3B and free cash flow of $1.9B-$2.1B, with the CFO projecting EBITDA growth will turn positive this year for the first time. This follows a series of debt refinancings and the Alkira acquisition, which is expected to boost multi-cloud and AI networking capabilities, underscoring an accelerating digital transformation and the shift toward recurring, higher-value services, with its Network-as-a-Service platform now serving over 3,000 customers.
At the time of this announcement, LUMN was trading at $6.81 on NYSE in the Technology sector, with a market capitalization of approximately $6.9B. The 52-week trading range was $3.61 to $11.95. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.