Tiger Brokers

BUZZ-Lumen falls as revenue woes persist

Reuters
Nov 01
BUZZ-Lumen falls as revenue woes persist

** Shares of telecommunications company Lumen Technologies LUMN.N slump 7.2% to $9.6, as investors focus on structural revenue decline

** Q3 revenue of $3.09 bln beats estimates but falls 4.2% from a year ago, highlighting ongoing top-line pressure

** Morningstar says ~$5 bln in annual revenue tied to "nurture" and "harvest" segments remains in perpetual decline

** Adjusted loss of 20 cents/share, narrower than consensus of 27 cents/share, but analysts flag limited visibility into sustainable growth

** Morningstar says Lumen's enterprise connectivity push faces stiff competition from rivals with similar tech access

** Stock up 82.67% YTD, including session's move

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))

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