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Q3 25 EPS
$-0.20
BEAT +25.01%
Est. $-0.27
Q3 25 Revenue
$3.09B
BEAT +1.55%
Est. $3.04B
vs S&P Since Q3 25
-37.8%
TRAILING MARKET
LUMN -28.4% vs S&P +9.5%
Market Reaction
Did LUMN Beat Earnings? Q3 2025 Results
Lumen Technologies posted a stronger-than-feared third quarter for fiscal 2025, beating Wall Street estimates on both the top and bottom lines even as the telecom's legacy business continued its structural slide. The company reported an adjusted loss… Read more Lumen Technologies posted a stronger-than-feared third quarter for fiscal 2025, beating Wall Street estimates on both the top and bottom lines even as the telecom's legacy business continued its structural slide. The company reported an adjusted loss of $0.20 per diluted share, clearing the consensus estimate of $0.27 per share by 25.01%, while revenue of $3.09 billion edged past the $3.04 billion consensus by 1.55%, though it still fell 4.2% year-over-year as legacy product erosion weighed on multiple segments. The most material catalyst behind the beat was Lumen's Private Connectivity Fabric initiative, which has now crossed $10.00 billion in cumulative deal signings and generated substantial prepayment-driven cash flow, with free cash flow excluding special items reaching $1.66 billion in the period. The GAAP net loss widened sharply to $621.00 million, reflecting $395.00 million in charges tied to aggressive debt refinancing that saved $135.00 million in annualized interest expense. Looking ahead, Lumen reiterated full-year guidance, with Adjusted EBITDA now expected near the high end of its $3.20 billion to $3.40 billion range.
Key Takeaways
- • Private Connectivity Fabric deals surpassing $10 billion in cumulative signings
- • Grow products revenue up 10.5% YoY representing 50% of N.A. Enterprise revenue
- • Public Sector revenue growth of 11.2% YoY
- • Fiber broadband revenue growth of 18.4% YoY with fiber now 49% of total broadband revenue
- • Deferred revenue changes of $2.468 billion YTD reflecting PCF deal prepayments
- • $2.4 billion debt refinancing saving $135 million in annual interest expense
LUMN YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
LUMN Revenue by Segment
With YoY comparisons, source: SEC Filings
LUMN Revenue by Geography
With YoY comparisons, source: SEC Filings
“This quarter, we demonstrated what disciplined execution and bold ambition can achieve. We delivered strong financial results—revenue, EBITDA, and free cash flow all ahead of expectations—while advancing our transformation agenda. Our investments in Private Connectivity Fabric, NaaS, and digital innovation are opening new doors, and the momentum is unmistakable. We're scaling our platform, expanding our reach, and accelerating our pivot to sustainable growth as we build the backbone of the AI economy. I'm proud of our team's accomplishments—and even more excited for what's ahead.”
— Kate Johnson, Q3 2025 Earnings Press Release
LUMN Earnings Trends
LUMN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LUMN EPS Trend
Earnings per share: estimate vs actual
LUMN Revenue Trend
Quarterly revenue: estimate vs actual
LUMN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-0.10 | $-0.20 | -108.12% | $2.90B | +2.48% |
| Q4 25 BEAT FY | $-0.27 | $0.00 | +100.00% | $3.04B | -0.04% |
| FY Full Year | $-0.56 | $-1.75 | -212.56% | $12.40B | -0.07% |
| Q3 25 BEAT | $-0.27 | $-0.20 | +25.01% | $3.09B | +1.55% |
| Q2 25 BEAT | $-0.27 | $-0.03 | +88.70% | $3.09B | -0.68% |
| Q1 25 BEAT | $-0.27 | $-0.13 | +51.15% | $3.18B | +1.79% |