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continues to identify and combat emerging cyber threats, such as the reemergence of TheMoon malware, which exploits outdated small office/home office (SOHO) routers.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 completed a private offering of $1.0 billion in 5.375% Senior Notes due 2029. The net proceeds, along with available cash, will be used to repay its 6.45% Senior Notes, Series S, due 2021. This strategic move is aimed at optimizing the company's debt structure. The notes were placed privately without registration under the Securities Act of 1933.
Lumen Technologies has launched Lumen Media Transformation, enabling media distributors to deliver video content more efficiently across devices globally. This fully-managed service enhances the user experience with advanced encoding technologies and supports OTT delivery, fostering rapid market entry for broadcasters and pay-TV operators. The OTT market is projected to exceed 1.24 billion subscribers in 2021, with a 21% revenue growth. Lumen's service requires no new hardware, facilitating seamless integration into existing workflows.
Black Lotus Labs, part of Lumen Technologies (NYSE: LUMN), identified a hacktivist campaign exploiting misconfigured routers to spread an anti-government manifesto. This incident, revealed on June 4, 2021, involved over 18,000 devices globally at risk due to vulnerabilities. The attackers compromised routers starting May 13, 2021, altering configurations and replacing them with propaganda. Despite past recommendations for configuration security, the risk remains significant as Black Lotus Labs continues to monitor the threat.
Lumen Technologies (NYSE: LUMN) announced the sale of $1.0 billion in unsecured 5.375% Senior Notes due 2029. The notes will mature on June 15, 2029, and are priced to investors at par. The company plans to use proceeds, along with cash on hand, for general corporate purposes, particularly to repay its existing 6.45% Senior Notes due 2021 at maturity. The offering is expected to close on June 15, 2021. The 2029 Notes will not be registered under the Securities Act and are offered only to qualified institutional buyers.
Lumen Technologies (NYSE: LUMN) plans to offer $1.0 billion of fixed-rate, unsecured Senior Notes in a private offering, pending market conditions. Proceeds will be utilized for general corporate purposes, including repaying its 6.45% Senior Notes due in 2021. The offering is limited to qualified institutional buyers and non-U.S. persons outside the U.S. The New Notes will not be registered under the Securities Act, indicating a private placement.
Lumen Technologies (NYSE: LUMN) will participate in three upcoming virtual investor conferences. Maxine Moreau will present at the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 26 at 5:10 p.m. EDT. Shaun Andrews will present at both the Cowen 49th Annual Technology, Media & Telecom Conference on June 3 at 10:30 a.m. EDT and Wells Fargo Virtual Media & Telco Day on June 7 at 1:15 p.m. EDT. Further webcast details are available on the Lumen Investor Relations website.
Lumen Technologies (LUMN) has declared a regular quarterly cash dividend of 25 cents per share, payable on June 11, 2021. Shareholders of record as of the close of business on June 1, 2021 will be eligible for this dividend. The ex-dividend date is set for May 28, 2021. This announcement underscores Lumen's commitment to providing returns to its shareholders while reinforcing its position in the technology sector with a robust fiber network spanning approximately 450,000 route miles across more than 60 countries.
Lumen Technologies (NYSE: LUMN) released its Q1 2021 DDoS report, highlighting the evolving complexity and frequency of DDoS attacks. The report reveals 700 active Command and Control servers from well-known IoT botnets like Gafgyt and Mirai, impacting 28,000 victims. Key findings include a largest DDoS attack at 268 Gbps and multi-vector mitigations comprising 41% of all defenses. The finance, software, and government sectors were the top targets. Lumen emphasizes the importance of DDoS defenses as organizational dependencies on applications grow.
On May 18, 2021, Lumen Technologies reported that 73% of retail leaders view Edge computing as a key investment, with 47% planning to invest within a year. The technology enhances digital experiences on sales floors and online, improving data access speed and security. A survey indicates that 83% of retailers expect real-time data access, crucial for customer engagement and operational efficiency. The rise in U.S. consumer confidence presents a growth opportunity, as retailers increasingly look to Edge computing to meet evolving digital demands.
Lumen Technologies (NYSE: LUMN) announced the award of a 12-year task order to provide secure high-speed connectivity and managed network services to the U.S. Navy Judge Advocate General (JAG) Corps. The contract, with a one-year initial term and 11 optional years, is part of the $50 billion Enterprise Infrastructure Solutions program. Lumen will use software-defined wide area networking (SD-WAN) and security services to support 20 Navy JAG sites across the continental U.S. This initiative aims to enhance operational efficiency for Navy legal solutions.
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