Shares of Lumen Technologies Inc. were headed 2% higher in Tuesday’s aftermarket action after the telecommunications company showed cash burn in its latest quarter, but at a smaller scale than analysts had been expecting.
The company, once known as CenturyLink, reported first-quarter net income of $511 million, or 52 cents a share, whereas it posted net income of $599 million, or 59 cents a share, in the year-earlier period. On an adjusted basis, Lumen LUMN earned 10 cents a share, down from 63 cents a share a year before,…
