Summary by Futu AI
On February 6, 2024, Lumen Technologies, Inc. released its fourth quarter and full-year financial results for the period ending December 31, 2023. The company reported a net loss of $1.995 billion for the fourth quarter, which included a non-cash goodwill impairment charge of $1.9 billion. This compares to a net loss of $3.069 billion for the same period in the previous year. Adjusted EBITDA for the quarter was $1.099 billion, a decrease from $1.393 billion in the fourth quarter of 2022. For the full year, Lumen reported a net loss of $10.298 billion, including non-cash goodwill impairment charges of $10.693 billion, compared to a net loss of $1.548 billion in the previous year. The company also completed a $1.8 billion divestiture of its EMEA business and the sale of select CDN...Show More