Lumen Technologies (LUMN) is a U.S.-based telecommunications company headquartered in Louisiana. Lumen providers services including internet, security, and cloud solutions. It also develops voice-related products and managed services.
More importantly, Lumen owns a major fiber-optic network that goes from North America, South America, and even Western Europe. This is a network that’s pivotal for 5G wireless technology.
And even though the company reported revenue of $5.03 billion compared to Wall Street’s anticipated revenue of $5.06 billion, the firm said it would make several strategic moves to bolster its exposure to the 5G market.
According to Lumen, it plans to further invest in fiber-optics, edge computing, and cloud-based services.
The telecom company will also look into divestitures to streamline its business and use the proceeds to build out its 5G presence.
So despite a slight revenue miss, Lumen’s outlook looks strong for the long term.
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