Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.
Lumen Technologies Inc.’s LUMN, -2.01% stock gained more than 2% in extended trading Tuesday after the telecommunications computing reported quarterly results.
Lumen Technologies reported a fiscal third-quarter net loss of $78 million, or 8 cents a share, compared with net earnings of $578 million, or 57 cents a share, in the year-ago quarter. Revenue was $3.64 billion, compared with $4.4 billion a year ago. Analysts surveyed by FactSet had expected on average net earnings of 4 cents a share on revenue of $3.6 billion. Shares of Lumen Technologies have plunged 72% this year, while the broader S&P 500 index SPX, +0.65% has increased 9%.
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