Why Lumen Technologies Is Sinking Today

Shares of Lumen Technologies (NYSE: LUMN) are down Wednesday. The firm's stock lost 3.4% as of 1 p.m. ET, but was down as much as 5.8% earlier in the day. The loss comes as the S 500 (SNPINDEX: ^GSPC) gained 0.1% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.1%.

Lumen, a telecom company that provides data center networking technology, reported earnings on Tuesday. While it was a mostly positive quarter, too many unknowns remain, and investors remain cautious.

Lumen reported a Q4 net income of $85 million on $3.3 billion in revenue. While that's a slim profit margin, it's up from a net loss of nearly $2 billion for the same period last year. The company beat expectations substantially; the earnings per share (EPS) of $0.09 the company delivered was well above the $0.06 loss expected.

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Source Fool.com