Reported 20 days ago
Lumen Technologies has raised its annual free cash flow forecast, anticipating between $1.2 billion and $1.4 billion, bolstered by over $8 billion in AI-related deals with major tech companies like Google, Microsoft, and Amazon. However, the company continues to face challenges from its legacy business, which has contributed to a nearly 12% decline in quarterly revenue to $3.22 billion. Despite the quarterly losses and concerns about its high debt, Lumen's shares have surged this year amidst growing demand for data connectivity solutions.
Source: YAHOO