Lumen Stock Soars After Mixed Q2 Results: EPS Miss, Sales Beat
Portfolio Pulse from Erica Kollmann
Lumen Technologies (NYSE:LUMN) reported mixed Q2 results with an EPS miss but a sales beat. Despite the EPS miss, the stock soared due to strong sales and a $5 billion new business driven by AI demand. The company cut its full-year adjusted EBITDA forecast.
August 06, 2024 | 9:02 pm
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Lumen Technologies reported mixed Q2 results with an EPS miss but a sales beat. The stock soared due to strong sales and a $5 billion new business driven by AI demand. However, the company cut its full-year adjusted EBITDA forecast.
Despite the EPS miss, the stock price surged due to the positive sales beat and the announcement of $5 billion in new business driven by AI demand. The cut in full-year adjusted EBITDA forecast is a negative, but the market reaction suggests strong investor confidence in the company's future growth and AI-driven opportunities.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100