Look, I am not a rocket scientist but none of this makes sense. Lumen 2nd quarter results were just announced on Thursday. Lumen did NOT make the same revenue as the previous quarter. Lumen's Revenue dropped 5.4% as it has been dropping each quarter. Lumen has 18.3 billion in debt. The sale with AT&T will give Lumen 4.8 billion. But this sale will lose a huge amount of customers, thus leading to lesser revenue. Not all 4.8 billion will go to the debt and as everyday passes more debt is gained. What is left to sell that could be worth 13 or 14 billion? Shouldn't she have kept the fiber and build a road to gaining revenue? It's true Enterprise customers went up 2% but that was 18% less than last quarter. Meaning customers are not buying. It feels like the tortoise chasing the rabbit. Trying to find a quick buck to try and zero out debt with no consistent revenue or desire to sell anything except to Enterprise. How many more quarterly readouts of negative revenue and the same 10+ billion in debt, loss of employees and management, loss of customers and selling our plant/real estate do we have to hear before we call it a day?
21 replies (most recent on top)
@fp
100%
Sounds like level 3 pre merger with centurylink
@bp That's not quite right. Sure if you want to read the funny pages Qwest acquired US West but in reality US West acquired Qwest. There was a federal law in place at the time that prohibited the ILEC from acquiring an IXC. All the Accountants at USW knew how we were required (again by law) to account for this transaction. USW was the acquiring company. At the time long distance was sinfully profitable and telco rates were abysmal.
@gf No they are from microsoft.
She has even added board members to stack it in her favor.
You sound like you are pro kate.
Right about everything, except being from Microsoft. They aren't from MS anymore than they're from Lumen. That was just the last short term gig before they came here.
@f1 oh heck no. Employees are still referred to their legacy company.
And they are usually more proud of who they worked for then saying they work for Lumen now.
And there will never be a colorless network. Remember the jokers running the company are from Microsoft. They have no clue how a telco operates.
How much time do we have until bankruptcy?
@f1 lol, you’ve lost the plot.. Every time the company gets bought or Turns its self around. it goes from Bad to worse!! It has never gotten better!… Never! Unless you’re in the C Suite or own a telecom contracting company.. there is future for you at lumen,
the company as a RBOC/ILEC will continue to wind down over the next couple of years to the point that the only single product is enterprise Data the only customers will be fortunate 500 companies.
There will be almost Zero internal employees with every bit of the hands on work contracted out! Every, sales person will be an independent contractor! Repair service will be handled by AI ..
Must be a newbie to this company. People talk about the history because it’s how we got to where it is today. If you knew that you’d know talking about it isnt what caused it. Here’s a history tidbit just to ruin your day more….trujillo crapped the bed when he sold the cellular business and nachio accelerated the slide when he opened the business up to clecs and wholesalers just so he could get into long distance service….because he thought that was a money maker and he wanted to stick it to att that fired him.
@f1 if you actually work here you know internally it’s still all those companies, colorless is a pipe dream.
Problems with our sh*t-hole company is the empoyees can't let go of Qwest, Century Link, Level 3...etc. history. Companies get acquired all the time...get over it...move on. This droning on about what it used to be is just insufferable.
Not for cash. Was a stock deal. Qwest had no cash and no business. It was all on paper. And correct, that paper was faked by Arthur Anderson and orchestrated by the con man Joe nachio.
Well fancy that. Now seeing QF sponsored ads again on instagram.
Coincidence? I doubt it.
@bj don't forget Level3.
@bj Qwest was real enough to buy US West for 44 billion with it’s cooked books.
@b2
Qwest was never a real company. It had dark fiber running along the railroads with books cooked by Arthur Anderson. It was all a ponzi scheme that blew up before Joe could pull it off. Lumen is about to pull it off.
@b2 not really a fiber company. They are pushing their enterprise services like NAAS or network as a service. Those types of offerings.
@OP the plan is sell off any ILEC assets, or spin off what can’t find a buyer, then become what L3 and Qwest was 25 years ago, a fiber player with the hopes we can build enough capacity for the hyperscaler data centers which they are building in the middle of nowhere.
@an have you seen the actual map of what AT&T is buying? It isn't much. And it isn't all of the fiber customers.
They even admitted they made a mistake selling off CenturyTel as they lost that constant revenue stream.
@OP don't forget the billion dollar sales they have. Spread out over 20 years though.
And I just saw a Lumen Technologies sponsored ad on instagram.
Kate was brought in as a change leader and that is what she's doing.
Plus stacking the board of directors.
Ever get the feeling that Failure is the actual goal, and everything else is just lip service!
If you look at the company today you would see that it is basically the Qwest company that merged with US West. Almost all of CenturyTel got sold to Brightspeed. Level 3 overseas got sold off. Domestically, they were required to divest certain routes as a condition of their merger w CenturyLink. Now with the ATT sale most of US West will be gone. From the merger of USW and Qwest (25 years ago) revenues have declined every quarter since then. It's only a matter of time til the remaining parts get sold.