Stock Track | Lumen Technologies Plunges 8% in Pre-Market on Disappointing Q3 Results

Stock Track

06 Nov 2024

Lumen Technologies Inc. ($LUMN) saw its stock price plunge about 8% in pre-market trading on Monday after reporting disappointing third-quarter results. The telecommunications company reported a wider-than-expected loss and revenue that fell sharply year-over-year.

For the quarter ended September 30, 2024, Lumen posted an adjusted loss of $0.13 per share, missing analysts' expectations of a $0.09 loss per share. Revenue declined 11.5% to $3.22 billion, slightly ahead of the $3.21 billion consensus estimate.

The company's legacy business continued to be a drag, with revenue from its Business segment down 12.7% year-over-year to $2.54 billion. Lumen's Mass Markets segment, which includes its consumer broadband offerings, saw revenue fall 6.9% to $685 million.

Lumen raised its full-year 2024 free cash flow guidance to a range of $1.2 billion to $1.4 billion, up from its previous outlook of $1.0 billion to $1.2 billion. However, the company warned that adjusted EBITDA is expected to decline year-over-year in 2025 due to continued legacy revenue declines and transformation costs.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1119579763"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1119579763\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/1119579763?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-06 19:55","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1119579763","market":"hk","top_or_hot":-1,"title":"Stock Track | Lumen Technologies Plunges 8% in Pre-Market on Disappointing Q3 Results","media":"Stock Track","content":"<html><head></head><body><p>Lumen Technologies Inc. ($LUMN) saw its stock price plunge about 8% in pre-market trading on Monday after reporting disappointing third-quarter results. The telecommunications company reported a wider-than-expected loss and revenue that fell sharply year-over-year.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0050ee87b6500c2a2fc03fd5b0b1fb5a\" tg-width=\"835\" tg-height=\"847\"/></p><p>For the quarter ended September 30, 2024, Lumen posted an adjusted loss of $0.13 per share, missing analysts&#39; expectations of a $0.09 loss per share. Revenue declined 11.5% to $3.22 billion, slightly ahead of the $3.21 billion consensus estimate.</p><p>The company&#39;s legacy business continued to be a drag, with revenue from its Business segment down 12.7% year-over-year to $2.54 billion. Lumen&#39;s Mass Markets segment, which includes its consumer broadband offerings, saw revenue fall 6.9% to $685 million.</p><p>Lumen raised its full-year 2024 free cash flow guidance to a range of $1.2 billion to $1.4 billion, up from its previous outlook of $1.0 billion to $1.2 billion. However, the company warned that adjusted EBITDA is expected to decline year-over-year in 2025 due to continued legacy revenue declines and transformation costs.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Lumen Technologies Plunges 8% in Pre-Market on Disappointing Q3 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Lumen Technologies Plunges 8% in Pre-Market on Disappointing Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-06 19:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Lumen Technologies Inc. ($LUMN) saw its stock price plunge about 8% in pre-market trading on Monday after reporting disappointing third-quarter results. The telecommunications company reported a wider-than-expected loss and revenue that fell sharply year-over-year.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0050ee87b6500c2a2fc03fd5b0b1fb5a\" tg-width=\"835\" tg-height=\"847\"/></p><p>For the quarter ended September 30, 2024, Lumen posted an adjusted loss of $0.13 per share, missing analysts&#39; expectations of a $0.09 loss per share. Revenue declined 11.5% to $3.22 billion, slightly ahead of the $3.21 billion consensus estimate.</p><p>The company&#39;s legacy business continued to be a drag, with revenue from its Business segment down 12.7% year-over-year to $2.54 billion. Lumen&#39;s Mass Markets segment, which includes its consumer broadband offerings, saw revenue fall 6.9% to $685 million.</p><p>Lumen raised its full-year 2024 free cash flow guidance to a range of $1.2 billion to $1.4 billion, up from its previous outlook of $1.0 billion to $1.2 billion. However, the company warned that adjusted EBITDA is expected to decline year-over-year in 2025 due to continued legacy revenue declines and transformation costs.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LUMN","symbol_name":"Lumen Technologies","start_time":0,"source_url":"","article_id":"1119579763","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1119579763","pubTimestamp":1730894131,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Lumen Technologies Inc.  saw its stock price plunge over 6% in pre-market trading on Monday after reporting disappointing third-quarter results. The telecommunications company reported a wider-than-expected loss and revenue that fell sharply year-over-year.For the quarter ended September 30, 2024, Lumen posted an adjusted loss of $0.13 per share, missing analysts' expectations of a $0.09 loss per share. Revenue declined 11.5% to $3.22 billion, slightly ahead of the $3.21 billion consensus estima","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LUMN":"Lumen Technologies"},"translate_title":"股票追踪Lumen Technologies因第三季度业绩令人失望而盘前暴跌8%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LUMN":1},"content_text":"Lumen Technologies Inc. ($LUMN) saw its stock price plunge about 8% in pre-market trading on Monday after reporting disappointing third-quarter results. The telecommunications company reported a wider-than-expected loss and revenue that fell sharply year-over-year.For the quarter ended September 30, 2024, Lumen posted an adjusted loss of $0.13 per share, missing analysts' expectations of a $0.09 loss per share. Revenue declined 11.5% to $3.22 billion, slightly ahead of the $3.21 billion consensus estimate.The company's legacy business continued to be a drag, with revenue from its Business segment down 12.7% year-over-year to $2.54 billion. Lumen's Mass Markets segment, which includes its consumer broadband offerings, saw revenue fall 6.9% to $685 million.Lumen raised its full-year 2024 free cash flow guidance to a range of $1.2 billion to $1.4 billion, up from its previous outlook of $1.0 billion to $1.2 billion. However, the company warned that adjusted EBITDA is expected to decline year-over-year in 2025 due to continued legacy revenue declines and transformation costs.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0}}}