Lumen reported a net loss of $550 million in 2024 on revenues of $13.11 billion, marking an improvement from the double-digit losses of prior years. By late 2025, the company had nearly aligned total assets of $34.02 billion with total liabilities of $33.57 billion after selling its fiber-to-the-home business to AT&T and refinancing term loans. These actions are expected to lower gross debt to approximately $13.2 billion and cut annual interest expenses by nearly 50%, providing a stronger liquidity runway and renewed investor confidence.

Lumen has secured long-term connectivity agreements with Microsoft, IBM and Google Cloud to support growing AI workloads, positioning its high-speed fiber network as a backbone for enterprise AI deployments. A multi-billion-dollar program is underway to add 34 million fiber route miles by the end of 2028, targeting high-margin, recurring revenue streams. The company’s focus on auxiliary AI services and edge computing has already driven a 540% surge in demand for its fiber solutions during the third quarter of 2024.

According to 24/7 Wall St. analysis, Lumen’s top-line is projected to stabilize in 2026 at $13.45 billion before climbing to $14.38 billion by 2030. Earnings per share are expected to turn positive in 2027 at $0.06 and reach $0.76 by 2030. Despite a consensus one-year target implying a near-term decline, the long-term price target of $9.88 per share by 2030 suggests potential upside of more than 20% from current levels, driven by AI-related revenue growth and improved margins.