Lumen beats revenue estimates and buys Alkira for 475M
Lumen Technologies reported first-quarter revenue of 2.9 billion dollars. It also announced the purchase of networking platform Alkira for 475 million dollars.
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LUMEN TECHNOLOGIES INC beat Q1 revenue estimates and will acquire networking platform Alkira for $475 million in cash. Revenue reached $2.9 billion, exceeding the $2.83 billion average estimate from LSEG data. The deal expands Lumen's addressable market to $70 billion by accelerating cloud-to-cloud and data center interconnect services.
