Lumen Technologies, Inc. Q3 2026 Earnings Recap

Lumen shares fell 11.0% after the earnings release. Despite growth in strategic sales and revenue, the transcript excerpt provides no full-quarter financial outlook or explanation for the selloff, so the specific disappointment cannot be established from the information available.

Key Takeaways

• Strategic sales rose 30% year over year; strategic revenue grew 10% and reached 55% of total business revenue, up from 53% last quarter.
• Lumen signed an additional $700 million of PCF business, bringing cumulative PCF business to more than $13.5 billion, and exceeded its target to deploy 5 million fiber miles more than two months early.
• NaaS adoption grew quarter over quarter: active customers increased 24%, active ports 38%, and active services 35%. The company said the combined Intelligent Internet business has more than $1 billion in revenue, over 100,000 installed ports and more than 25,000 customers.
• AI-company wavelength installs grew more than fivefold versus the prior 12-month period and accounted for more than one-third of new 400-gig wave installs.
• The excerpt ends before management completes its discussion of copper decommissioning and provides no guidance or full-quarter financial results.