Why Lumen Technologies Gained 18% After Q3 2024 Report
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Lumen Technologies' Q3 2024 report showed a revenue decline but a significant increase in free cash flow, driven by strong private connectivity fabric sales. The stock rose 18% post-earnings due to positive cash flow and AI infrastructure opportunities.
November 06, 2024 | 9:45 pm
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Lumen Technologies' Q3 2024 results showed a revenue decline but a significant increase in free cash flow, driven by strong PCF sales. The stock rallied 18% post-earnings due to positive cash flow and AI infrastructure opportunities.
The significant increase in free cash flow and strong PCF sales, despite a revenue decline, led to an 18% stock rally. The company's focus on AI infrastructure and business model transformation supports future growth and debt reduction, positively impacting investor sentiment.
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