Lumen Q1 revenue beats expectations as NaaS adoption lifts enterprise demand

Lumen Technologies reported stronger-than-expected first-quarter revenue, citing higher adoption of programmable network services and improved execution in enterprise and public sector markets. CEO Kathleen Johnson said large network-as-a-service deployments with financial and logistics customers helped drive results. CFO Christopher Stansbury pointed to a better revenue mix and lower churn in legacy services as additional support for the quarter. Lumen shares traded at $8.34 as of May 15, 2026, down from $9.23 before the earnings report. Investors are watching the integration of Alkira’s platform, further NaaS adoption, cloud partnerships, cost controls and the pace of customer migration from legacy services to digital offerings.