"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. CEO Kate Johnson projected the company's return to growth by 2029."
"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."
"From July 1, 2024, to September 30, 2024, the shares went on a tear. The stock, which was trading at just $1.11 at the start of the third quarter of 2024, surged 540% by the end of the third quarter. That was quite the reversal, given how the stock has slid 82.8% since hitting its all-time high of $4"
Lumen Technologies focused on strengthening its balance sheet and improving liquidity by reducing debt while working to improve customer satisfaction. The company still faces declining revenue and free cash flow headwinds. The stock faced delisting risk in 2023 after dipping below $1.00 but surged in mid-2024 as demand for high-speed fiber-network solutions grew. Lumen secured deals with Microsoft and other tech firms requiring increased data-center connectivity and partnered with IBM and Google Cloud for scalable AI and advanced cloud-network offerings. The company refinanced term loans, sold its fiber-to-the-home business to AT&T, and projects a return to growth by 2029.
Read at 24/7 Wall St.
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