Lumen Technologies Stock Continues To Soar: What's Going On?
Portfolio Pulse from Adam Eckert
Lumen Technologies Inc (NYSE:LUMN) shares surged after reporting better-than-expected Q2 revenue and securing $5 billion in new business. Despite an adjusted loss per share, multiple analysts upgraded the stock, contributing to a 93% rise in stock price.
August 07, 2024 | 1:30 pm
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Lumen Technologies reported Q2 revenue of $3.268 billion, beating estimates. Despite an adjusted loss per share, the company secured $5 billion in new business, leading to multiple analyst upgrades and a 93% rise in stock price.
The better-than-expected Q2 revenue and significant new business deal have positively impacted investor sentiment. Multiple analyst upgrades further support the bullish outlook, leading to a substantial rise in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100