Welcome to our dedicated page for Lumen Technologies news (Ticker: LUMN), a resource for investors and traders seeking the latest updates and insights on Lumen Technologies stock.
Lumen Technologies, Inc. (NYSE: LUMN) is a leading global telecommunications and technology company dedicated to transforming the way businesses and individuals interact with the digital world. With a workforce of approximately 38,000 professionals, Lumen is at the forefront of the 4th Industrial Revolution, offering flexible, intelligent, secure, and collaborative solutions for the next generation of business.
Lumen's extensive infrastructure includes 450,000 route miles of fiber, making it one of the largest telecommunication carriers in the United States. The company's strategic shift towards enterprise services was marked by its merger with Level 3 in 2017 and the divestiture of much of its ILEC business in 2022. Today, Lumen generates about 75% of its revenue from enterprise services, providing a full spectrum of communications solutions, including colocation and data center services, data transportation, and end-user phone and Internet services.
On the consumer side, Lumen delivers broadband and phone services across 37 states, serving 4.5 million broadband customers. The company is committed to enhancing the digital experience by leveraging its network strength, which spans metro connectivity, long-haul data transport, edge cloud, security, and managed service capabilities.
Lumen is also a recognized leader in cybersecurity. The latest Lumen Quarterly DDoS & Application Threat Report for Q4 2023 highlights a surge in DDoS attacks targeting the government sector. Lumen's advanced threat intelligence, powered by AI and machine learning, has been pivotal in mitigating these threats. The company's Black Lotus Labs threat intelligence team continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.
Financially, Lumen has shown robust performance. The company reported total revenue of $3.290 billion for Q1 2024, alongside substantial improvements in customer satisfaction and significant broadband net additions. After executing a comprehensive debt restructuring plan, Lumen now enjoys a strengthened liquidity position and a streamlined debt maturity profile.
Recent achievements include securing a $73.6 million contract to transform the U.S. Government Accountability Office's (GAO) network infrastructure and launching Lumen Defender, a cutting-edge AI-driven cybersecurity tool designed to proactively block evolving threats at the network edge.
For more information about Lumen Technologies and their ambitious mission, please visit www.lumen.com.
Lumen Technologies has launched the Lumen Solutions for Contact Center – Genesys Cloud, a new Contact Center as a Service (CCaaS) in partnership with Genesys. This cloud-based solution allows companies to transition from traditional contact centers to a flexible, cost-effective model, enhancing customer retention and productivity. Key features include omnichannel options, AI integration, and real-time data analytics. The service is currently available for enterprise customers, with a FedRAMP-compliant version for the public sector expected soon. This partnership positions Lumen as a unique network partner in the market.
Lumen Technologies (NYSE: LUMN) has announced a significant investment to expand its network capacity by adding 6 million fiber miles by 2026, bringing its U.S. intercity network total to nearly 12 million fiber miles. This expansion uses a multi-conduit system for efficient deployment of cutting-edge fiber technology. The upgraded network aims to enhance performance, support up to 400G wavelength services, and provide reliable low-latency connections for businesses and government agencies. This initiative positions Lumen to meet increasing demand for high-bandwidth services.
Lumen Technologies (NYSE: LUMN) will present at the UBS Global TMT Conference on December 6 at 1:20 p.m. ET.
Chris Stansbury, the executive vice president and chief financial officer, will lead the presentation. Investors can access a live webcast through the Lumen Investor Relations website.
Lumen serves customers in over 60 countries with approximately 400,000 route fiber miles, providing a secure platform for applications and data.
Lumen Technologies (NYSE: LUMN) will have its CFO, Chris Stansbury, present at the 6th Annual Wells Fargo TMT Summit on December 1, 2022, starting at 12:20 p.m. ET. Investors can access the live webcast of this presentation through the Lumen Investor Relations website. Lumen is committed to advancing technology for better living and working experiences, operating over 400,000 route fiber miles globally, serving customers in over 60 countries. For more information about Lumen's services, visit their news site.
Lumen Technologies (NYSE: LUMN) is expanding its fiber internet service, Quantum Fiber, to over 30 U.S. cities, enhancing access for millions of consumers. This service offers ultra-fast gigabit and multi-gigabit speeds, meeting the increasing demand for reliable connectivity. The expansion aims to support local communities and bridge the digital divide. Quantum Fiber promises 99.9% reliability, no annual contracts, and symmetrical upload/download speeds. The initiative reflects Lumen's commitment to invest in high-speed broadband and improve internet experiences for homes and small businesses.
Lumen Technologies (NYSE: LUMN) will have its CFO, Chris Stansbury, present at the RBC Capital Markets Global Technology, Internet, Media, and Telecommunications Conference on November 15, 2022, at 3:45 p.m. ET. A live webcast of the presentation will be accessible through the Lumen Investor Relations website.
Lumen serves customers in over 60 countries and has approximately 400,000 route fiber miles, emphasizing technological advancements for better living and working.
Lumen Technologies has launched its Edge Bare Metal services in the Asia Pacific region, aiming to enhance edge computing capabilities for enterprise applications. The service offers dedicated server hardware with ultra-low latency of 5 milliseconds or less, facilitating efficient operations in sectors like retail, manufacturing, and financial services. This initiative represents Lumen's commitment to investing in edge infrastructure, leveraging locations in Japan and Singapore. The first deployment supports a global blockchain nonprofit organization, enhancing its infrastructure capabilities.
Lumen Technologies reported Q3 2022 net income of $578 million, up from $544 million year-over-year. The company completed a $2.7 billion divestiture of its Latin American business and announced a new $1.5 billion share repurchase program. However, total revenue fell to $4.390 billion from $4.887 billion in Q3 2021. Adjusted EBITDA decreased to $1.688 billion from $2.078 billion. The board eliminated the dividend for Q4 2022, reflecting ongoing adjustments in capital allocation aimed at investing in growth.
Lumen Technologies (LUMN) has announced an exclusive arrangement to sell its Europe, Middle East, and Africa (EMEA) business to Colt Technology Services for $1.8 billion, reflecting a strong ~11x multiple on estimated 2021 adjusted EBITDA. This strategic divestiture aims to enhance Lumen's focus on core business areas and strengthen its financial position. The transaction will enable Lumen to streamline operations and invest in growth initiatives while maintaining services for multinational customers through a partnership with Colt. The deal is expected to close by late 2023, pending regulatory approvals.
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