On February 6, 2024, Lumen Technologies, Inc. released its fourth quarter and full-year financial results for the period ending December 31, 2023. The company reported a net loss of $1.995 billion for the fourth quarter, which included a non-cash goodwill impairment charge of $1.9 billion. This compares to a net loss of $3.069 billion for the same period in the previous year. Adjusted EBITDA for the quarter was $1.099 billion, a decrease from $1.393 billion in the fourth quarter of 2022. For the full year, Lumen reported a net loss of $10.298 billion, including non-cash goodwill impairment charges of $10.693 billion, compared to a net loss of $1.548 billion in the previous year. The company also completed a $1.8 billion divestiture of its EMEA business and the sale of select CDN...Show More

On February 6, 2024, Lumen Technologies, Inc. released its fourth quarter and full-year financial results for the period ending December 31, 2023. The company reported a net loss of $1.995 billion for the fourth quarter, which included a non-cash goodwill impairment charge of $1.9 billion. This compares to a net loss of $3.069 billion for the same period in the previous year. Adjusted EBITDA for the quarter was $1.099 billion, a decrease from $1.393 billion in the fourth quarter of 2022. For the full year, Lumen reported a net loss of $10.298 billion, including non-cash goodwill impairment charges of $10.693 billion, compared to a net loss of $1.548 billion in the previous year. The company also completed a $1.8 billion divestiture of its EMEA business and the sale of select CDN contracts. Lumen's management highlighted progress on strategic priorities, including strengthening the balance sheet and preparing for future growth. The company provided a financial outlook for 2024, expecting Adjusted EBITDA to be between $4.1 to $4.3 billion and Free Cash Flow to be between $100 to $300 million. The results and future outlook were discussed in a conference call streamed live on Lumen's website.