Compared to Estimates, Lumen (LUMN) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Lumen (LUMN) reported revenue of $3.64 billion, down 17.1% over the same period last year. EPS came in at -$0.09, compared to $0.14 in the year-ago quarter.
The reported revenue represents a surprise of +1.42% over the Zacks Consensus Estimate of $3.59 billion. With the consensus EPS estimate being $0.06, the EPS surprise was -250.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Lumen performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Fiber Broadband Subscribers: 896 thousand versus 903.72 thousand estimated by three analysts on average.
Fiber broadband enabled units: 3,500 thousand versus 3,558.89 thousand estimated by three analysts on average.
Mass Markets total broadband subscribers: 2,836 thousand compared to the 2,843.8 thousand average estimate based on three analysts.
Other Broadband subscribers: 1,940 thousand versus the three-analyst average estimate of 1,940.08 thousand.
Operating Revenues- Total Business Segment Revenue: $2.89 billion versus the four-analyst average estimate of $2.83 billion. The reported number represents a year-over-year change of -8.3%.
Operating Revenues- Total Mass Markets Revenue: $747 million versus the four-analyst average estimate of $760.61 million.
Operating Revenues- Total Business Segment Revenue- Large Enterprise: $1.18 billion compared to the $2.05 billion average estimate based on four analysts. The reported number represents a change of +40.1% year over year.
Operating Revenues- Total Business Segment Revenue- Wholesale: $770 million versus the four-analyst average estimate of $780.18 million. The reported number represents a year-over-year change of -14.8%.
Voice and Other-Mass Markets Segment by Product Category: $245 million versus $251.03 million estimated by four analysts on average.
Mid-Market Enterprise- TOTAL: $498 million versus $497.32 million estimated by four analysts on average.
Public Sector- TOTAL: $444 million versus $400.91 million estimated by four analysts on average.
Fiber Broadband-Mass Markets Segment by Product Category: $162 million compared to the $158.12 million average estimate based on four analysts.
View all Key Company Metrics for Lumen here>>>
Shares of Lumen have returned +7.2% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Lumen Technologies, Inc. (LUMN) : Free Stock Analysis Report
