Telecom company beats revenue expectations and shows progress on strategic priorities
- Lumen Technologies reports surprise adjusted profit for latest quarter
- Revenue of $3.52 billion in Q4, beating expectations
- Shares up about 2% in after-hours trading
- Lumen’s business segments show mixed results
- CEO Kate Johnson highlights material progress on strategic priorities
- Lumen takes $1.9 billion non-cash goodwill impairment charge
- Adjusted earnings per share at 8 cents, down from 43 cents a year before
- Debt-restructuring agreement addresses over 70% of outstanding indebtedness
- Lumen expects $4.1 billion to $4.3 billion in adjusted Ebitda for 2024
Lumen Technologies Inc. has reported a surprise adjusted profit for its latest quarter, surpassing revenue expectations. The company saw revenue of $3.52 billion in the fourth quarter, beating the consensus view. Lumen’s business segments showed mixed results, with its ‘grow’ products experiencing a 1% decline in revenue, its ‘nurture’ business category declining by 12%, and its ‘harvest’ businesses logging a 9% revenue decline. CEO Kate Johnson highlighted the company’s material progress on strategic priorities. Lumen took a $1.9 billion non-cash goodwill impairment charge and reported a net loss of $2.0 billion. Adjusted earnings per share came in at 8 cents, down from 43 cents a year before. Lumen expects $4.1 billion to $4.3 billion in adjusted Ebitda for 2024.
Public Companies: Lumen Technologies Inc. (LUMN)
Private Companies:
Key People: Kate Johnson (Chief Executive)
Factuality Level: 7
Justification: The article provides information about Lumen Technologies Inc.’s financial performance in its latest quarter, including revenue, adjusted profit, and business segment breakdown. The information is based on reported figures and analyst expectations, which can be verified. However, the article lacks in-depth analysis and context, and it does not provide a comprehensive overview of the company’s overall performance or industry trends.
Noise Level: 3
Justification: The article provides information about Lumen Technologies Inc.’s financial performance in the latest quarter, including revenue, profit, and business segment breakdown. It also mentions the company’s debt-restructuring agreement and future forecasts. However, the article lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on financial figures without providing a broader context or discussing the implications of the results.
Financial Relevance: Yes
Financial Markets Impacted: Lumen Technologies Inc.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Lumen Technologies Inc. and its quarterly results.
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