Lumen Technologies, Inc.

Why Is Lumen (LUMN) Up 12% Since Last Earnings Report?

Lumen Technologies reported a narrower-than-expected Q2 2026 loss of 7 cents per share versus consensus estimate of 15 cents. Strategic revenues grew 14.1% year-over-year to represent 53% of total business, while legacy revenues declined 15.1%. The company highlighted strong NaaS adoption (up 22% sequentially with 3,000 customers), AI-driven networking demand, and the completed Alkira acquisition. Shares have gained 12% since earnings, outperforming the S&P 500. Lumen maintained its full-year 2026 guidance with adjusted EBITDA between $3.1-$3.3 billion and free cash flow of $1.9-$2.1 billion.