From Financial Modeling Prep: 2024-11-06 07:16:00

Lumen Technologies (NYSE:LUMN) shares fell over 8% pre-market after reporting a Q3 adjusted per-share loss of $0.13, worse than the expected $0.09. Despite this, revenue of $3.22 billion beat estimates of $3.21 billion. CEO Kate Johnson highlighted Lumen’s role in supporting the AI economy, driving network demand.

Lumen raised its full-year 2024 free cash flow guidance to $1.2-$1.4 billion, up from $1.0-$1.2 billion. Adjusted EBITDA forecast remains at $3.9-$4.0 billion for the year. Johnson emphasized Lumen’s position as a key player in the evolving market, supporting businesses integrating AI into their operations with robust network strategies.



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