Lumen(US:LUMN) ZACKSยท2024-11-06 00:00Core Insights - Lumen reported revenue of $3.22 billion for Q3 2024, a decrease of 11.5% year-over-year, with an EPS of -$0.13 compared to -$0.09 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate by 0.58%, while the EPS surprised positively by 35% against the consensus estimate of -$0.20 [1] Financial Performance Metrics - Public Sector revenue was $427 million, below the estimated $444.48 million, reflecting a year-over-year decline of 3.8% [3] - Fiber Broadband-Mass Markets Segment generated $190 million, slightly above the estimated $189.17 million, marking a year-over-year increase of 17.3% [3] - Other Broadband-Mass Markets Segment revenue was $282 million, below the estimated $286.47 million, showing a decline of 17.1% year-over-year [3] - Voice and Other-Mass Markets Segment reported $213 million, exceeding the estimate of $206.94 million, with a year-over-year decrease of 13.1% [3] - Mid-Market Enterprise revenue totaled $471 million, slightly below the estimated $473.79 million, down 5.4% year-over-year [3] - Total Business Segment Revenue was $2.54 billion, slightly above the estimate of $2.52 billion, down 12.4% year-over-year [3] - Total Mass Markets Revenue was $685 million, exceeding the estimate of $682.58 million, down 8.3% year-over-year [3] - Wholesale Business Segment Revenue was $706 million, below the estimated $711.27 million, down 8.3% year-over-year [3] - Large Enterprise revenue was $839 million, slightly above the estimate of $832.32 million, reflecting a significant year-over-year decline of 29% [3] - International and Other revenue was $93 million, significantly above the estimated $58.05 million [3] Stock Performance - Lumen's shares have increased by 20.1% over the past month, contrasting with a 0.5% decline in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]