"Concerns about the prospects for Lumen Technologies Inc. ( NYSE: LUMN) have lingered. However, recent quarterly results suggested a positive shift in its financial health due to a focus on strengthening its balance sheet and improving liquidity by reducing debt. The global telecommunications company has also focused on improving customer satisfaction. However, it still faces challenges with declining revenue and with free cash flow."
"More recently, Lumen partnered with IBM to unlock scalable AI for businesses, as well as with Google Cloud to provide advanced cloud and network solutions to meet the growing demands of AI workloads. Lumen strengthened its financial position and freed up capital for long-term growth by refinancing its term loans, as well as selling off its fiber-to-the-home business to AT&T."
Lumen Technologies focused on strengthening its balance sheet and improving liquidity by reducing debt and refinancing term loans. The company sold its fiber-to-the-home business to AT&T to free capital for long-term growth. Strategic partnerships with Microsoft, IBM, and Google Cloud target increased connectivity and scalable AI workloads, driving growing demand for Lumen's high-speed fiber network solutions. The stock rebounded sharply in mid-2024 as AI-driven data-center connectivity needs surged, despite ongoing challenges of declining revenue and constrained free cash flow. Customer satisfaction improvements were pursued alongside financial restructuring to stabilize operations.
Read at 24/7 Wall St.
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