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) ...

Group 1: Company Developments - Lumen Technologies, Inc. announced it has secured $5 billion in new business driven by significant AI-fueled connectivity demand and is negotiating for an additional $7 billion in sales opportunities [1] - Lumen plans to more than double its intercity network miles over the next five years to meet the growing demand for fiber capacity, particularly from large companies like Microsoft [2] - Lumen secured its largest cable purchase agreement with Corning Incorporated, ensuring 10% of Corning's global fiber capacity for Lumen over the next two years [3] Group 2: Industry Trends - The AI economy is reshaping business operations, increasing the need for powerful network infrastructure to handle current and future data demands [4] - There is a rising interest from hyperscalers and large organizations for custom network solutions, prompting Lumen to establish a new Custom Networks division [5] - The new division will provide tailored network solutions, including dark fiber and custom fiber routes, to support AI-intensive workloads [6] Group 3: Market Performance - Following the announcement of new business and growth plans, shares of Lumen surged 46.7% in the pre-trading session on August 6 [1] - Over the past year, Lumen's stock has gained 131.6%, significantly outperforming the sub-industry's growth of 22.9% [7]

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Lumen Technologies, Inc. (LUMN) is scheduled to report second-quarter 2024 results on Aug 6. The Zacks Consensus Estimate for total revenues is pegged at $3.26 billion, indicating a decline of 11.1% from from the year-ago level. The consensus estimate for earnings is currently pegged at a loss of 9 cents per share. In the year-ago quarter, LUMN reported earnings of 10 cents per share. The company's earnings missed the Zacks Consensus Estimate in two of the last four quarters and beat twice, delivering an av ...