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The latest announcement is out from Lumen Technologies ( (LUMN) ).
For the fourth quarter and full year 2024, Lumen Technologies reported a notable improvement in financial performance, with a net income of $85 million in Q4 2024 compared to a significant net loss in the same period in 2023. The company also strengthened its balance sheet by reducing debt, increasing liquidity, and enhancing customer satisfaction across all segments. Lumen continued to make strategic advancements in building an AI backbone and expanding its network-as-a-service offerings, setting a strong foundation for future growth. Despite the improvements, the company reported a full-year net loss of $55 million, a substantial recovery from the previous year’s loss, attributed mainly to non-cash goodwill impairment charges.
More about Lumen Technologies
Lumen Technologies operates in the telecommunications industry, providing services such as network-as-a-service, cloud services, and telecommunications solutions. The company focuses on enterprise customers, public sectors, and wholesale markets, with an emphasis on enhancing digital connectivity and cloudifying telecom services.
YTD Price Performance: -13.19%
Average Trading Volume: 14,063,396
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $4.94B
For a thorough assessment of LUMN stock, go to TipRanks’ Stock Analysis page.
