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![Lumen Technologies, Inc. [LUMN] reports annual net loss of $10,298.0 trillion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FLUMN.png&w=1200&q=75)
Lumen Technologies, Inc. [LUMN] has reported a net loss of $10,298.0 trillion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $14,557.0 trillion
Based in MONROE, Louisiana, Lumen Technologies, Inc. operates in the TRANSPORT sector.
In the 12 months ended December 31, 2023, the company reported operating revenue of $14,557 million, a decrease from the previous period's $17,478 million in operating revenue in 2022 and $19,687 million in 2021.
Cost of services and products for 2023 was $7,144 million, compared to $7,868 million in 2022 and $8,488 million in 2021. Selling, general, and administrative expenses were $3,198 million in 2023, slightly higher than $3,078 million in 2022 and $2,895 million in 2021.
The company incurred a net loss of $10,298 million in 2023, a significant decrease from the net loss of $1,548 million in 2022 and a turnaround from a net income of $2,033 million in 2021.
The basic and diluted (loss) earnings per common share were reported as $(10.48) in 2023, compared to $(1.54) in 2022 and $1.92 in 2021 for basic earnings per share, and $(10.48) in 2023, compared to $(1.54) in 2022 and $1.91 in 2021 for diluted earnings per share.
The weighted average common shares outstanding for basic and diluted earnings per share were 983,081 in 2023, 1,007,517 in 2022, and 1,059,541 in 2021 for basic shares, and 983,081 in 2023, 1,007,517 in 2022, and 1,066,778 in 2021 for diluted shares.
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