New Street Research - Lumen Technologies Inc. (LUMN) LUMN quick hit: Lumen and AWS sign PCF contract

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New Street Research

Jonathan Chaplin

EUR 9281.00 For Business Accounts Only

LUMN quick hit: Lumen and AWS sign PCF contract

The companies announced reciprocal contracts today. AWS will use Lumen for connectivity between Regions and Local Zones; Lumen will move its IT and product platforms to AWS.

30/10/2024 1 EN

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Lumen Technologies Inc.

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US5502411037 New York Stock Exchange United States

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Analysts

Jonathan Chaplin

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LUMN: quick thoughts following the 3Q24 call

We cover two important things in this brief note: first, the valuation of the new PCF contracts; second, the implications of recent transactions for the value of Quantum Fiber and the Mass Markets business. We also touch on trends in Quantum Fiber.

EUR 9281.00

6h / 36m 6h / 36m 1 EN

New Street Research

LUMN Quick Hit: Lumen and Google sign PCF contract

The companies announced reciprocal contracts today. Lumen will use Google Cloud, the Google Vertex AI platform, and the Google Gemini model to provide network insights and AI support for customer care. At the same time, Lumen will give Google access to existing fiber and build new fiber on new routes for Google.

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CPNG 3Q24 Results: Margins to Improve YoY in FY24

What’s new: Coupang’s reported 3Q24 results that were above consensus and our expectations. While margins could fluctuate QoQ partly due to seasonality and timing of expenses, adjusted EBITDA margin could further improve on a YoY basis in FY24 partly due to scale and better operating efficiency. We up our PT from USD28 to USD30 as CPNG could continue to grow multiples of the market. Our updated PT of USD30 implies 1.46x FY25E EV/Revs. We maintain our BUY rating. Analysts: Jin Yoon

5h / 54m 5h / 54m 1 EN

Jonathan Chaplin

Jonathan Chaplin

LUMN: quick thoughts following the 3Q24 call

EUR 9281.00

6h / 36m 6h / 36m 1 EN

Jonathan Chaplin

Jonathan Chaplin

FYBR 3Q24 Quick Take: Subscribers beat; EBITDA in line; all eyes on the vote

Fiber deployment and fiber net adds were both exceptional. EBITDA was in-line, despite the strong growth (higher SAC from higher growth will have been a drag on EBITDA). If Frontier remains independent after November 13th, these results will provide strong support for management’s strategy and execution prowess.

EUR 9281.00

6h / 38m 6h / 38m 1 EN

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LUMN quick hit: Lumen and AWS sign PCF contract

LUMN: quick thoughts following the 3Q24 call

LUMN Quick Hit: Lumen and Google sign PCF contract

CPNG 3Q24 Results: Margins to Improve YoY in FY24

LUMN: quick thoughts following the 3Q24 call

FYBR 3Q24 Quick Take: Subscribers beat; EBITDA in line; all eyes on the vote

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