Lumen Technologies Stock In Focus Ahead of Q3 Earnings: Retail Cautious

Lumen Technologies ($LUMN) shares were down 1.87% on Tuesday morning (10:47 am ET), ahead of its third-quarter earnings, with retail sentiment staying cautious.

The Monroe, La.-based company also announced a partnership with Google Cloud to drive AI innovation. Google Cloud will underpin Lumen’s Digital Twin technology, providing proactive insights across the Lumen network.

Wall Street expects Lumen to report earnings per share (EPS) of $0.09, on revenues of $3.21 billion.

Lumen has missed earnings forecasts three times in the last four quarters.

Retail sentiment on the company improved slightly, moving from ‘bearish’ (37/100) a day ago to ‘neutral’ (54/100) on Tuesday.

Separately, Lumen announced on Tuesday, it is partnering with Google Cloud to boost its digital transformation efforts and drive innovation for billions of Google customers.

The agreement is aimed at powering AIOps and proactive data insights across Google’s network, the companies said in a joint statement.  The insights “help Lumen proactively detect and quickly resolve network issues before they reach its customers,” it said.

"Google Cloud's expertise and AI technologies are key enablers for our company, allowing us to use our Lumen Digital Twin network technology to test new capabilities and improvements before we deploy them," Dave Ward, Lumen chief technology and product officer, said.

Last month, Lumen and Meta (META) entered a partnership agreement aimed at “significantly” increasing Meta's network capacity and drive “bold” AI ambitions, The Fly reported at the time.

Stocktwits users were cautious about Lumen’s price movement on Tuesday.

Lumen’s stock is up 289% year-to-date.

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