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Lumen Technologies Shares Plunge Amid Disappointing Earnings Report
Lumen Technologies Shares Plunge Amid Disappointing Earnings Report
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BTCCSquare news:
Lumen Technologies saw its shares plummet 19.4% following a lackluster second-quarter earnings report. While the company's adjusted net loss per share improved to $0.03 from $0.13 year-over-year, revenue declined 5.4% to $3.09 billion, missing expectations. Cost-cutting measures drove the narrower loss, but failed to reassure investors about the firm's long-term prospects.
The network giant revised its 2025 free cash FLOW guidance upward by $500 million, though $400 million of this adjustment stems from a one-time tax benefit rather than operational improvements. Lumen continues its strategic shift away from consumer markets, having agreed to sell 95% of its consumer fiber-to-the-home business to refocus on enterprise customers.
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