Lumen Technologies, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 04:11 pm EST
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Lumen Technologies, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 3,517 million compared to USD 3,800 million a year ago. Net loss was USD 1,995 million compared to USD 3,069 million a year ago. Basic loss per share from continuing operations was USD 2.03 compared to USD 3.08 a year ago. Diluted loss per share from continuing operations was USD 2.03 compared to USD 3.08 a year ago.
For the full year, sales was USD 14,557 million compared to USD 17,478 million a year ago. Net loss was USD 10,298 million compared to USD 1,548 million a year ago. Basic loss per share from continuing operations was USD 10.48 compared to USD 1.54 a year ago. Diluted loss per share from continuing operations was USD 10.48 compared to USD 1.54 a year ago.
Lumen Technologies, Inc. is a facilities-based technology and communications company. The Company provides a range of integrated products and services to its domestic and global business customers and its domestic mass markets customers. It operates through two segments: Business segment and Mass Markets segment. Its Business segment provides its products and services under four sales channels to meet the needs of its enterprise and commercial customers. Its products and services in this segment include Dark Fiber, Edge Cloud Services, Internet Protocol (IP), Managed Security Services, Software-Defined Wide Area Networks (SD WAN), Secure Access Service Edge (SASE), Optical Services, Ethernet, VPN Data Networks, Voice Services, IT Solutions and Other Legacy Services. Its Mass Markets segment provides products and services to residential and small business customers. Its products and services in this segment include Fiber Broadband, Other Broadband and Voice and Other.