Why Lumen Stock Is Falling Hard Today

Chris Neiger, The Motley Fool

February 8, 2023 at 2:27 p.m.·2 min read

Shares of Lumen Technologies (NYSE: LUMN), a cloud connectivity and security solutions company, were plunging Wednesday after it reported its fourth-quarter results. The company actually beat Wall Street's consensus estimates for the quarter, but investors focused their attention on management's disappointing guidance. Lumen's non-GAAP earnings per share were down 15% from the year-ago quarter to $0.43, but that easily outpaced analysts' average estimate of $0.19 for the quarter.

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