Lumen Technologies to Generate Profit via Copper Network Recovery and Pursue AI Company Transformation
LUMN Lumen Technologies Inc
$4.32 +8.27%
View chart & analysis → - 1Lumen Technologies plans to decommission 25% of its Lumen copper network in Iowa, Florida, Nevada, and Utah by the end of next year.
- 2Based on current copper prices, Lumen expects pre-tax net proceeds of $1 billion to $1.5 billion from copper recovery over the next five years.
- 3Lumen's third-quarter revenue of $2.72 billion recorded a 12.1% decrease in Lumen's third-quarter revenue compared to the same period last year.
So what's the key point?
Lumen Technologies has decided to decommission 25 percent of its copper communication network by the end of next year. It is expected to generate up to $1.5 billion in profit by recovering the copper.
Source Fortune · View original ↗
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