- Telecommunications services firm Lumen Technologies missed Wall Street estimates for quarterly revenue on Tuesday as customers move away from its core local wireline telephone services to wireless carriers.
Lumen has a network of fiber optic and copper cables and provides cloud-based communication services and IT solutions to businesses and users, helping them manage calls, messages and video meetings via a single interface.The company posted net revenue of $3.29 billion in the first quarter, compared with analysts' average estimate of $3.37 billion according to LSEG data, a 12% fall from a year earlier.
The company said in January it had signed a deal with a group of lenders that will push out its debt maturities to at least 2029 and provide it with access to more than $2 billion in fresh capital. Do you have some extra cash to spare? These three discounted stocks are poised for a rebound. The post 3 Beaten-Down Stocks that Could Take Off in the New Bull Market appeared first on The Motley Fool Canada.3 Reasons to Buy Enbridge Stock Like There’s No Tomorrow