Lumen Technologies (LUMN) Jumps 27% Despite Disappointing Q3

We recently published 10 Stocks With Easy 20-40% Gains. Lumen Technologies, Inc. (NYSE:LUMN) is one of the last week’s best-performing stocks.

Lumen Technologies managed to eke out a strong 27.07 percent gain last week despite ending the last two trading days in the red following a disappointing earnings performance in the third quarter.

Prior to the release of its earnings performance on Wednesday, Lumen Technologies, Inc. (NYSE:LUMN) was notably trading in the green, but later finished the last two trading days lower, after incurring a 319 percent net loss expansion.

Kappri/Shutterstock.com

In an updated report, Lumen Technologies, Inc. (NYSE:LUMN) said net loss stood at $621 million in the third quarter of the year, markedly higher than the $148 million in the same period last year on the back of higher expenses.

Meanwhile, adjusted EBITDA fell by 32 percent to $571 million from $843 million, while total revenues dipped by 4.16 percent to $3.087 billion from $3.221 billion year-on-year.

Despite the figures, the company reaffirmed its growth outlook for full-year 2025, with total adjusted EBITDA expected to hit $3.2 billion to $3.4 billion.

Capital expenditures were on track to hit $4.1 billion to $4.3 billion, as the company ramps up developments aimed at supporting the artificial intelligence industry.

Earlier this month, Lumen Technologies Inc. (NYSE:LUMN) said that it would join forces with Palantir to integrate Lumen Connectivity Fabric—a next-generation digital networking solution—into the latter’s Foundry and Artificial Intelligence Platform (AIP).

The partnership was aimed at supporting enterprises with their AI adoption by allowing them to move and manage data securely and quickly across multi-cloud and hybrid environments, and enhancing AI applications with reduced latency and cost, while simplifying IT complexity, among others.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.