Welcome to our dedicated page for Lumen Technologies news (Ticker: LUMN), a resource for investors and traders seeking the latest updates and insights on Lumen Technologies stock.
Lumen Technologies reports developments in enterprise communications, programmable networking, and network services for businesses. Company updates describe operating results, transformation initiatives, metro connectivity, long-haul data transport, edge cloud, security, managed services, and digital platform capabilities used to connect people, data, and applications.
Recurring LUMN news also covers capital-structure actions involving senior notes, tender offers, exchange offers, consent solicitations, credit arrangements, and subsidiary debt issuers such as Qwest and Level 3 entities. Additional updates address investor presentations, shareholder voting matters, material agreements, and leadership or governance changes tied to the company's telecom and enterprise-network operations.
Lumen Technologies (NYSE: LUMN) released its Q2 2021 DDoS report, noting a 14% increase in mitigated attacks compared to Q1. Key findings revealed a rise in ransom DDoS attacks, emphasizing the importance of robust DDoS mitigation services for digital businesses. The report highlighted a large attack bandwidth of 419 Gbps and a significant increase in unique command-and-control servers (C2s) across various regions. The security team at Lumen utilized intelligence from Black Lotus Labs to compile these findings.
Black Lotus Labs, the threat intelligence arm of Lumen Technologies (NYSE: LUMN), has identified modifications to the ReverseRat remote access trojan, now dubbed ReverseRat 2.0. This enhanced version gains access to webcams and USB-connected devices, evading antivirus detection. It primarily targets victims in Afghanistan, India, Iran, and Jordan, with malicious documents masquerading as United Nations meeting agendas. Black Lotus Labs has null-routed the threat infrastructure and advises organizations to stay vigilant against such attacks.
Lumen Technologies will present at the Cowen 7th Annual Communications Infrastructure Summit on August 10, 2021, at 6:55 p.m. ET. The presentation will be led by Maxine Moreau, President of Mass Markets. Investors can access the webcast through the Lumen Investor Relations website. Lumen Technologies operates across approximately 450,000 route fiber miles in over 60 countries, focusing on delivering secure platforms for applications and data, enhancing business and community experiences.
Lumen Technologies has agreed to sell its ILEC business, which includes consumer, small business, and enterprise customers in 20 states, to Apollo Global Management for $7.5 billion, including approximately $1.4 billion in debt assumption. The deal is part of Lumen's strategy to transform and grow, retaining its ILEC assets in 16 states and expanding its fiber network. The transaction is expected to close in the second half of 2022, subject to regulatory approvals. This move is aimed at meeting the rising demand for high-bandwidth connectivity.
Lumen Technologies reported Q2 2021 revenue of $4.924 billion, down from $5.192 billion in Q2 2020. Adjusted EBITDA reached $2.089 billion, showing stability compared to the previous year. The company authorized a $1.0 billion stock buyback and is set to sell its ILEC assets for $7.5 billion, bolstering future growth prospects. Lumen updated its 2021 outlook, projecting Free Cash Flow between $3.1 billion and $3.3 billion.
Lumen Technologies (NYSE: LUMN) is enhancing its network capacity with a new subsea fiber route connecting Richmond, Virginia, and Paris, France, utilizing the Google Dunant cable system. This move addresses the growing demand for international bandwidth, driven by a surge in cloud services, as 70% of organizations plan to increase spending on cloud connectivity. With 450,000 route fiber miles, Lumen aims to provide diverse, low-latency connections for global businesses. Services on the new route are set to be operational by September 2021.
Lumen Technologies (NYSE: LUMN) has signed an agreement to sell its Latin American business to Stonepeak for $2.7 billion. This sale, valued at approximately 9X the business' 2020 Estimated Adjusted EBITDA, allows Lumen to focus investments in key growth areas and provides flexibility for capital allocation. The current leadership team will remain in place under Stonepeak, which aims to enhance the business's market presence. Lumen will maintain a strategic relationship with the new company to serve existing customers in Latin America.
Lumen Technologies (NYSE: LUMN) has announced a significant expansion of its fiber network in Europe, enhancing service capabilities in France, Switzerland, and Spain. Key developments include a new 180-mile fiber route connecting Lyon and Geneva, with connections to three new cities. In Spain, a 170-mile segment was added to complete the national fiber ring. This expansion aims to provide faster connections, lower latency, and improved security, supporting the demand for high-speed broadband. The Lumen network now includes approximately 23,600 route miles in Europe, accessed by over 2,000 on-net buildings.
Lumen Technologies (NYSE: LUMN) has secured a significant 12-year task order valued at $52 million to enhance high-speed connectivity for the U.S. Army Recruiting Command. This contract, awarded under the General Services Administration's $50 billion Enterprise Infrastructure Solutions program, includes an initial one-year term with 11 additional one-year options. The high-speed internet and VoIP solutions will facilitate recruitment efforts across the U.S. and territories, supporting the Army's mission to attract qualified individuals.
T-Mobile (NASDAQ: TMUS) and Lumen Technologies (NYSE: LUMN) have enhanced their partnership to provide government agencies with a fixed wireless access service utilizing T-Mobile's 5G network and Lumen's edge computing platform. This service is now included in Lumen's offerings under the GSA's $50 billion Enterprise Infrastructure Solutions (EIS) program, aimed at meeting the critical needs of government agencies. Officials emphasized the need for scalable and secure networks for various applications, including emergency response and data access.