Oct 31 (Reuters) - Telecommunications services firm Lumen Technologies (LUMN.N) beat Wall Street estimates for third-quarter revenue on Tuesday, helped by strong demand for its services as businesses digitize their operations.
The Monroe, Louisiana-based company posted revenue of $3.64 billion for the quarter ended Sept. 30, beating analysts' average estimate of $3.61 billion, according to LSEG data, but fell 17% from a year earlier.
The proposed sale of Lumen's EMEA business is expected to close on Wednesday, subject to meeting customary closing conditions, the company said.
The company said its long-term debt at the end of the third-quarter was $19.74 billion.
Lumen posted a net loss of $78 million for the quarter compared with a reported net income of $578 million a year earlier.
Persons:
Lumen, Kate Johnson, Johnson, Jaspreet Singh, Krishna Chandra
Organizations:
Telecommunications, Lumen Technologies, EMEA, California's Department of Technology, Thomson
Locations:
Monroe , Louisiana, Bengaluru