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Sep 30, 2023
Lumen Q3 2023 Earnings Report
Lumen's third quarter results reflected progress on operational improvements and strategic transactions.
Key Takeaways
Lumen Technologies reported a net loss of $(78) million for Q3 2023, compared to a net income of $578 million in Q3 2022. The company generated free cash flow of $43 million, excluding special items, and saw an increase in Enterprise Channel revenue. They are making progress on operational improvements and are excited for the close of their EMEA transaction expected tomorrow.
Enterprise Channel revenue increased to $2.124 billion, compared to $2.100 billion in the second quarter.
Quantum Fiber-enabled location pacing accelerated with approximately 141 thousand fiber locations enabled during the quarter.
Net loss was $(78) million, compared to net income of $578 million for the same period last year.
Free cash flow, excluding special items, was $43 million, compared to $620 million for the same period last year.
Lumen
Lumen
Lumen Revenue by Segment
Revenue by Segment
Large Enterprise Revenue
CapyFin.comMid-Market Enterprise Revenue
CapyFin.comPublic Sector Revenue
CapyFin.comWholesale Revenue
CapyFin.comMass Markets Segment Revenue
CapyFin.com Forward Guidance
The company reiterated its full-year 2023 financial outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income