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Stock impact report

Reflecting On Telecommunication Services Stocks' Q3 Earnings: Lumen (NYSE:LUMN) [Yahoo! Finance]

Lumen Technologies, Inc. (LUMN) 
Company Research Source: Yahoo! Finance
The sector is a tale of two cities. Satellite telecommunication is generally buoyed by rising global demand for connectivity in costly-to-connect and remote areas. On the other hand, terrestrial telecommunication companies face an uphill battle, as they mostly sell into a deflationary market, where the price of moving a bit tends to decrease over time with better technology. Despite the differences in demand drivers, companies across the entire industry must contend competition from larger telecom conglomerates and hyperscalers expanding their own networks as well as newer entrants such as SpaceX's StarLink. The 5 telecommunication services stocks we track reported a very strong Q3. As a group, revenues beat analysts' consensus estimates by 4.7%. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.2% since the latest earnings results. With approximately 350,000 route miles of fiber optic cable spanning North America and the Asia Show less Read more
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