Lumen(US:LUMN)2024-08-06 20:38Financial 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]