Published on 1 May 2024 on Zacks via Yahoo Finance
Lumen (LUMN) Q1 Earnings Miss Estimates, Revenues Down Y/Y
Lumen Technologies, Inc LUMN reported an adjusted loss (excluding special items) of 4 cents per share for first-quarter 2024. In the prior-year quarter, the company reported adjusted earnings per share of 10 cents. The bottom line missed the Zacks Consensus Estimate of a loss of 3 cents.
Quarterly total revenues were $3.290 billion, down 12% year over year on a reported basis. Revenues for the year-ago quarter include $139 million from the EMEA business divested, which will not recur in periods following the divestiture. Also, it missed the Zacks Consensus Estimate by 3%.