Can Lumen Technologies ($LUMN) Surprise Us in Q3 2024

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2024-11-05 02:00:03

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With Lumen Technologies ($LUMN) set to release Q3 2024 earnings on November 5, it’s worth examining the company’s recent moves and overall position in the telecom sector. Analysts have tempered expectations, predicting a slight loss and lower revenue year-over-year, but Lumen’s working on some interesting changes. Here’s everything you need to know.

Analysts expect Lumen to post a small loss for Q3 2024—$0.05 per share on revenue around $3.2 billion, a 12% year-over-year decrease. These cautious expectations reflect Lumen’s transition phase, with lower demand for older services. Investors will be watching for any early progress in high-growth areas like AI infrastructure and fiber expansion.

Yes, the telecom sector has been resilient in 2024. The S&P Telecom Index is up about 54% over the last 12 months, outpacing the broader market (+37%). This shows strong demand for connectivity and digital infrastructure, which benefits companies like Lumen that provide core telecom services.

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