Why Lumen Technologies Plunged Today
Shares of network giant Lumen Technologies (NYSE: LUMN) plunged 19.4% on Friday as of 12:10 p.m. ET.
The fiber broadband network giant fell after reporting second-quarter earnings last night, which technically beat expectations on the bottom line, but still resulted in an adjusted non-GAAP (generally accepted accounting principles) loss.
Yet revenue fell short of expectations, indicating investors may have to be more patient to realize the company's turnaround efforts, if they happen at all.
Source Fool.com
