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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continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.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 (NYSE: LUMN) has declared a quarterly cash dividend of $0.25 per share, set to be paid on September 9, 2022. Shareholders of record as of August 30, 2022 will receive this dividend, with the ex-dividend date on August 29, 2022. This move underscores Lumen's commitment to returning value to its investors.
Brightspeed has announced its initial fiber network build plan for Kansas, aiming to reach over 10,000 new fiber passings by the end of 2023. This expansion is part of a larger strategy that includes 45,000 additional fiber passings over subsequent years, totaling over 55,000 locations. The company plans to invest at least $2 billion in fiber optics, impacting up to 3 million homes and businesses in the next five years. Brightspeed's network aims to enhance internet connectivity in rural and suburban areas of Kansas.
Lumen Technologies (NYSE: LUMN) has launched its new on-demand edge solution, Lumen Edge Virtual Machines (VM), enabling businesses to run next-generation applications with high performance and scalability. This offering provides on-demand compute, storage, and secure networking, integrating with the company's edge portfolio. The service promises flexibility, low latency, and reduced costs, allowing businesses to efficiently deploy workloads closer to digital interactions. Lumen's infrastructure reportedly meets 97% of U.S. enterprise demand within 5 milliseconds of latency.
Brightspeed announced plans to expand its fiber optic network in South Carolina, aiming to reach up to 14,000 new fiber passings by the end of 2023. This initiative is part of a broader $2 billion investment to enhance broadband access for up to 3 million homes and businesses over five years. The company will employ advanced technologies like XGS-PON for internet speeds exceeding 1Gbps. The build-out is essential for improving connectivity in rural areas, supported by state and federal broadband grant programs.
Brightspeed has announced plans for a major fiber optics network rollout in Arkansas, aiming to reach over 40,000 potential customers by the end of 2023. This first phase includes construction across 10 counties, with plans for an additional 60,000 fiber passings in the future, totaling over 100,000. The investment is part of a broader $2 billion initiative to enhance internet access, especially in rural areas. Brightspeed, formed from Lumen Technologies' assets, is pending acquisition by Apollo-managed funds and expects final regulatory approvals soon.
Lumen Technologies (NYSE: LUMN) reported its successful mitigation of a record DDoS attack, reaching 1.06 Tbps, which was part of a broader campaign targeting a single victim. Remarkably, the targeted organization experienced no downtime during this incident. The report highlighted emerging trends in cyber-attacks, including the misuse of cloud services and the increase in 'hit-and-run' tactics. Notably, attacks on VoIP protocols, specifically SIP, saw a significant rise of 315% compared to the previous quarter. This reinforces Lumen's commitment to providing robust security frameworks for its clients.
Lumen Technologies announced the results of its cash tender offers for various senior notes, including the 5.375% notes due 2025 and 5.250% notes due 2026. As of August 5, 2022, approximately $227.17 million of the 2025 notes and $152.14 million of the 2026 notes were validly tendered. The company plans to purchase all validly tendered Maximum Tender Notes by August 9, 2022. However, the company has not yet received necessary consents for certain notes. The tender offers will expire on August 19, 2022. Lumen operates across 60 countries, providing extensive fiber services.
Lumen Technologies reported a Net Income of $344 million for Q2 2022, a decline from $506 million in Q2 2021. The Diluted EPS decreased to $0.34 from $0.46 year-over-year. The company generated Adjusted EBITDA of $1.811 billion and a Total Revenue of $4.612 billion, both lower than last year's figures. Free Cash Flow fell to $668 million from $1.044 billion. Lumen completed a $2.7 billion divestiture of its Latin American business, with expectations to finalize another divestiture soon. The company reiterated its 2022 financial outlook for Adjusted EBITDA and Free Cash Flow.
Lumen Technologies (NYSE: LUMN) has launched its Quantum Fiber service, offering internet speeds up to 8 gigabits per second to select homes and small businesses in areas including Denver, Minneapolis, and Seattle. This service features symmetrical upload and download speeds, leveraging XGS-PON technology for enhanced performance. Lumen aims to enhance connectivity for users with multiple devices and virtual work environments. The company plans to expand Quantum Fiber's availability to more markets later this year.
Lumen Technologies (NYSE: LUMN) announces that Shaun Andrews, executive vice president and chief marketing officer, will present at the Cowen 8th Annual Communications Infrastructure Summit on August 9 at 6:55 p.m. ET. The presentation will be available via live webcast on the Lumen Investor Relations website. Lumen, with around 450,000 route fiber miles and operations in over 60 countries, aims to advance technology for better living and working experiences.
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