Centurylink and lumen technologies8/9/2023 Lumen in October finalized the $7.5 billion sale of its incumbent local exchange carrier (ILEC) business, which included its consumer, small business, wholesale and mostly copper-served enterprise customers and assets in 20 states to Brightspeed, a brand new company that launched its operations last Fall. The company in November announced an exclusive arrangement for the proposed sale of its EMEA business to Colt Technology Services for $1.8 billion. Johnson called Quantum “core” to Lumen’s growth agenda. The company also increased its Quantum Fiber-enabled location pacing, deploying approximately 120 thousand fiber locations during 2023’s first quarter. Lumen said these results demonstrate a “significant improvement” when compared to the first quarter 2022 when considering the impacts of Lumen’s divested businesses. The Grow category pulled in $1.13 billion in Q1 2023 compared to Grow revenue of $1.09 billion in Q4 2022. The company during its first fiscal quarter of 2023 saw an increase in Lumen’s “Grow” business product revenue category on a quarter-over-quarter basis. Johnson during the company’s first earnings call of 2023 in February said that she saw this year as a “reset year” as the company, which has struggled to gain financial footing over the last couple years, makes ambitious moves to grow by divestiture while making internal investments in high-growth areas such as managed security, secure access service edge (SASE) and unified communications (UC) and collaboration. “We have a new mission for Lumen - to digitally connect people, data and applications, quickly, securely and effortlessly … In addition to improved revenues this quarter, we’re seeing green shoots of progress in several areas,” Lumen’s president and CEO, Kate Johnson, told investors on Tuesday evening. On Friday, September 18, 2020, the company stock ticker will change from CTL to LUMN.Telecom giant Lumen Technologies, formerly CenturyLink, has begun to see traction in new growth areas, but the company’s executives say it’s still very early in Lumen’s two-year “turnaround” story. Lumen also announced Quantum Fiber in their press release, “a full digital platform for delivering fiber-based products and services to residents and small businesses.” To serve this colossal need and further human progress through technology, we have launched Lumen and are delivering our technology through the Lumen Platform, a platform for amazing things,” said Shaun Andrews, Lumen executive vice president and chief marketing officer. “All of our futures will be driven by smart things, applications and digital services that use data for transformational purposes. The platform, according to the press release, also brings the network together with edge cloud capabilities, security, and communication to deliver a fast and secure foundation for application and data services. Lumen says that their platforms global fiber network, 450,000 route fiber miles in more than 60 countries, offers support for things such as smart cities, retail, industrial robotics, real-time virtual collaboration, and automated factories. (KTVE/KARD) - Monroe-based telecommunication company CenturyLink has rebranded itself as Lumen Technologies, or Lumen.Īccording to a press release from the company, the rebranding comes as the company shifts its focus on helping “lead enterprises through the challenges and opportunities of the 4th Industrial Revolution.”
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