Lumen Technologies Shares Down After Mixed Q3 Results

Lumen Technologies Inc. (NYSE:LUMN) reported its third-quarter results after Tuesday's closing bell. Here's a look at the details from the report.  

The Details: Lumen Technologies reported quarterly losses of 13 cents per share, which missed the analyst consensus estimate for losses of 9 cents. Quarterly revenue came in at $3.22 billion, which beat the analyst consensus estimate of $3.21 billion.

Lumen’s management team will host a conference call at 5 p.m. ET to discuss the results.

“The largest technology companies in the world are choosing Lumen to help build the backbone for the AI economy. What’s more, enterprises are recognizing that every AI strategy needs a network strategy, and they’re coming to Lumen for help,” said Kate Johnson, CEO of Lumen Technologies.

“We continue to transform Lumen’s business while also leading a once-in-a-generation expansion of the internet,” Johnson added.

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Outlook: Lumen Technologies said it continues to expect fiscal year 2024 adjusted EBITDA in a range of $3.9 billion to $4 billion and net cash interest of between $1.15 billion and $1.25 billion.

LUMN Price Action: According to Benzinga Pro, Lumen Technologies shares are down 2.76% after-hours at $7.40 at the time of publication Tuesday.

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Photo: Courtesy of Lumen Technologies, Inc.