A street sign marks Wall Street outside the New York Stock Exchange (NYSE) in New York, U.S., February 24, 2022.
REUTERS/Caitlin Ochs/File PhotoAug 1 (Reuters) - Lumen Technologies (LUMN.N) reported a massive quarterly net loss of $8.74 billion on Tuesday, hurt by an impairment charge of nearly $9 billion in the second quarter.
The company, whose second-quarter loss was more than four times its $2 billion market capitalization, recorded a steep fall from a profit of $344 million a year ago.
The company said its long-term debt at the end of the second quarter was $19.9 billion, down from $20.42 billion, at the end of last year.
Revenue in the second quarter stood at $3.66 billion, narrowly missing analysts' average estimate of $3.67 billion, according to Refinitiv data.
Persons:
Caitlin Ochs, Lumen, Yamini
Organizations:
New York Stock Exchange, REUTERS, Lumen Technologies, Revenue, Thomson
Locations:
New York, U.S, Monroe , Louisiana, Bengaluru