Lumen Technologies tops third-quarter revenue estimates on strong demand

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- Telecommunications services firm Lumen Technologies 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 company has also decided to take reorganization measures,"which will result in about 4% fewer people inside the company," CEO Kate Johnson said in an earnings call.

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