BUZZ-Lumen slips as legacy business weighs on results

Reuters
2024-11-06

** Shares of telecom firm Lumen Technologies down 4.2% premarket to $7.29 after qtrly report fails to enthuse

** Co late Tues annual free cash flow $(FCF)$ forecast to $1.2-$1.4 bln, up from $1-$1.2 bln, on continued AI deals with big cloud firms, even as weakness in its legacy business dragged on results

** Rev fell 12% y/y to $3.22 bln in Q3, in line with Street, while adj loss of 13 cents/sh exceeded expected loss by 4 cents, per LSEG data ** T

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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