Key Takeaways It was a second straight day of monster gains for Lumen Technologies shares as the telecom company benefited from soaring AI demand. Lumen posted a smaller second-quarter loss and higher revenue than estimates. On Tuesday, Lumen reported a big jump in business for its AI connectivity products. Lumen Technologies (LUMN) shares soared for a second straight session Wednesday after the telecom provider reported better-than-expected results and a huge jump in its full-year free cash flow guidance a ...

Lumen Technologies NYSE: LUMN is known for its legacy telecommunications business. However, recently, Lumen's stock price has skyrocketed over 150%. The catalyst? A surge in demand for high-capacity fiber optic networks that are crucial for powering the artificial intelligence (AI) boom. However, this excitement is tempered by a stark reality: Lumen carries a significant debt load, raising questions about whether the AI-driven growth spurt can indeed turn its fortunes around. Get Lumen Technologies alerts: ...

Lumen Technologies, Inc (LUMN) reported an adjusted loss (excluding special items) of 13 cents per share for the second quarter of 2024. In the prior-year quarter, the company reported adjusted earnings per share of 10 cents. The bottom line was wider than the Zacks Consensus Estimate of a loss of 9 cents per share. Quarterly total revenues were $3.268 billion, down 10.7% year over year on a reported basis. The decline was due to the negative impact of divestitures, commercial agreements and the sale of the ...

Which of these AI-driven stocks is a better buy right now? Lumen Technologies (LUMN 93.05%) and Broadcom (AVGO 1.29%) were both driven higher by the buying frenzy in artificial intelligence (AI) stocks. Over the past 12 months, Lumen's stock surged more than 70% as Broadcom's stock rallied over 60%. Lumen, the telecom company formerly known as CenturyLink, impressed the bulls by signing a new AI infrastructure deal with Microsoft and a fiber supply deal with Corning. Broadcom dazzled the market with its soa ...

shulz At the end of July, trading volume in shares of Lumen Technologies (NYSE:LUMN) surged into the hundreds of millions. Buyers accumulated LUMN stock throughout the last month, starting at around $1.00. In the absence of any news, the stock earned a seven-day winning streak alert on July 19. By July 30, Lumen finally announced a major agreement with Corning (GLW). Lumen would allocate 10% of Corning's global fiber capacity for each of the next two years. This would facilitate Lumen's building of a new ne ...

For the quarter ended June 2024, Lumen (LUMN) reported revenue of $3.27 billion, down 10.7% over the same period last year. EPS came in at -$0.13, compared to $0.10 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $3.26 billion, representing a surprise of +0.39%. The company delivered an EPS surprise of -44.44%, with the consensus EPS estimate being -$0.09. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Financial Performance - Total revenue for Q2 2024 was $3268 million, a decrease of 10.7% year-over-year[18] - Business revenue was $2577 million, down 11.4% year-over-year[16] - Mass Markets revenue was $691 million, a decrease of 8.2% year-over-year[17] - Adjusted EBITDA was $1011 million, a decrease of 17.7% year-over-year, with an adjusted EBITDA margin of 30.9%[33, 34] - Approximately 36% of the total revenue decline was attributed to divestitures, net of post-closing commercial agreements and CDN contracts sold[20] - Approximately 21% of the Adjusted EBITDA decline was attributed to divestitures, net of post-closing commercial agreements and CDN contracts sold[36] Mass Markets & Fiber - Fiber broadband revenue in Mass Markets grew by 14.6% year-over-year, reaching $181 million and contributing 26% to the total[25] - The company reported 40K fiber net subscriber additions, the best ever reported[11, 12, 13] - Fiber-enabled locations increased by 136K quarter-over-quarter[14] - Fiber revenue contribution to total broadband revenue reached 38% in Q2 2024[29] - Fiber broadband ARPU (Average Revenue Per User) is approximately $62[31] Guidance - The company anticipates an adjusted EBITDA between $3900 million and $4000 million for 2024[37] - The company anticipates free cash flow between $1000 million and $1200 million for 2024[37]

Lumen is one of the market's hottest stocks today thanks to some big AI news. The stock of Lumen Technologies (LUMN 91.51%) is posting explosive gains in Tuesday's trading. The company's share price was up 87.3% as of 3:15 p.m. ET today, according to data from S&P Global Market Intelligence. In a press release yesterday, Lumen showed that it's benefiting from demand for fiber networks to support artificial intelligence (AI) services. Following the news, the stock received a ratings upgrade and price-target ...

Company Performance - Lumen Technologies (LUMN) stock surged over 80% in a few hours, poised to surpass the $5 mark, moving out of penny stock territory [2] - The stock traded at just over $1 per share a month ago, indicating significant growth potential [2] Business Deals and Partnerships - Lumen secured $5 billion in new business deals, primarily driven by demand for its AI applications [1] - A major deal with Microsoft involves using Lumen's network equipment to expand AI workload capacity [1] - Lumen announced an agreement with Corning Incorporated for next-generation optical cables to support cloud data centers [3] Industry Trends and AI Demand - The AI economy is driving companies to seek powerful network infrastructure to manage unprecedented data flows [3] - Lumen's AI-ready infrastructure and expansive network position it well to capitalize on growing AI demand [3] - Many large companies across sectors are seeking to secure fiber capacity quickly due to red-hot AI needs [4] Future Growth Potential - Lumen is in discussions for additional $7 billion in sales opportunities, indicating strong future growth potential [4] - The company could finish 2024 among the top AI breakouts if it continues to capitalize on AI demand [5]

Key Takeaways Lumen Technologies said it secured $5 billion in new business because of booming demand for AI connectivity. The telecom firm said it's also in active discussions with customers for an additional $7 billion in AI sales opportunities. Lumen is expanding its network to deal with the soaring demand. Shares of Lumen Technologies (LUMN) skyrocketed Tuesday, a day after the telecom provider announced it had secured $5 billion in new business because of soaring demand for artificial intelligence (AI) ...