Lumen Technologies, Inc. (LUMN) Stock Price, Quote & News
Lumen Technologies, Inc., a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legac... [Read more]
Financial Performance
In 2023, Lumen Technologies's revenue was $14.56 billion, a decrease of -16.71% compared to the previous year's $17.48 billion. Losses were -$10.30 billion, 565.2% more than in 2022. According to 9 analysts, the average rating for LUMN stock is "Hold." The 12-month stock price forecast is $3.55, which is a decrease of -62.75% from the latest price.
Recent Developments
Lumen Technologies' Q3 results showed a revenue decline but a significant increase in free cash flow, driven by strong private connectivity fabric (PCF) sales. The stock rallied 18% post-earnings. Lumen Technologies, Inc. (NYSE:LUMN) held its Q3 2024 Earnings Conference Call on November 5, 2024. The company's CEO, Kate Johnson, shared insights on the company's tech partnerships, Google Cloud deal, and AI initiatives.
Fibre-optic cable provider Lumen Technologies raised its annual free cash flow forecast thanks to AI deals with large cloud companies. Despite weakness in its legacy business, Lumen continues to innovate and expand its services.
Partnerships and Expansion
Lumen Technologies has formed strategic partnerships with major players in the industry. The company has agreements with Amazon Web Services (AWS) and Google Cloud to provide connectivity services and leverage AI technologies to enhance operations. Lumen's next-generation fiber network supports AWS infrastructure across the U.S., facilitating the expansion of AI-driven services.
In October 2024, Lumen Technologies announced the appointment of Chris Capossela to its board of directors. Capossela's expertise will further strengthen Lumen's position in the market.
Community Initiatives
Lumen Technologies actively contributes to the community, such as providing classroom connectivity for New Mexico students. The company's commitment to digital innovation extends beyond business operations to supporting education and connectivity initiatives.
