NEWS
Lumen Technologies reports second quarter 2024 results
Positive
Continued success in North American Large and Mid-Market Enterprise sales
Continued success in North American Large and Mid-Market Enterprise sales
Partnership with Microsoft positions Lumen to capitalize on AI-driven demand
Improved customer satisfaction across channels
Updated Free Cash Flow outlook increased to $1.0 to $1.2 billion from $100 to $300 million
Negative
Net Loss of $(49) million in Q2 2024
Total Revenue decreased 11% year-over-year to $3.268 billion
Adjusted EBITDA excluding Special Items declined 18% year-over-year to $1.011 billion
Negative Free Cash Flow of $(156) million in Q2 2024
Lowered full-year 2024 Adjusted EBITDA outlook to $3.9 to $4.0 billion from $4.1 to $4.3 billion
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