Lumen posts $8.736B net loss in Q2, driven by $8.793B goodwill impairment

Lumen Technologies, Inc.

2023-Q2 EPS reported -$8.37 revenue$7,399,000,000

Net loss of $8.736B ($8.88 diluted loss per share); excludes $8.793B non-cash goodwill impairment.
Revenue $3.661B, down 21% YoY; Mass Markets revenue fell 36% to $764M.
Adjusted EBITDA excl. special items $1.229B, down 32% YoY from $1.811B.
Free cash flow negative $896M, including $938M cash tax from divestitures.
Deployed ~130k Quantum Fiber locations; Grow product revenue $1.138B, up slightly QoQ but down 5% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lumen Technologies, Inc. reported second quarter 2023 results: net income $(8.736) billion, EPS ($8.88).

Period: second quarter 2023
Net income: $(8.736) billion
EPS: ($8.88)
Result: reported results

Exact text from the filing

Reported Net Loss of $(8.736) billion for the second quarter 2023, which included a non-cash goodwill impairment charge of $8.793 billion, compared to reported Net Income of $344 million for the second quarter 2022

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Source: SEC EDGAR

accession 0000018926-23-000084

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