Lumen Investor Presentation Deck
1Q23 Total Reported Revenue
Improved Performance in Grow Products and Enterprise Channels
Revenue ($ in millions)
Enterprise Channels
Large Enterprise
Mid-Market Enterprise
Public Sector
Wholesale
Business Subtotal
Mass Markets
Total Revenue
1Q23
$2,139
$1,194
$515
$430
$817
$2,956
$782
$3,738
Q/Q%
Change
(1.4%)
(1.9%)
(1.3%)
(0.2%)
(2.2%)
(1.6%)
(1.6%)
(1.6%)
% Total
57.2%
31.9%
13.8%
11.5%
21.9%
79.1%
20.9%
100%
(1) Other includes Equipment and IT Solutions.
(2) Direct margin is defined as revenue less variable and fixed costs directly associated with the provision of
services and products to customers. Direct costs would include, but are not limited to: direct labor and
materials/goods, direct taxes and fees, incremental third-party costs that can be attributed to a specific customer,
and certain fixed costs.
25 Issued: May 2, 2023
Revenue ($ in
millions)
Grow
Nurture
Harvest
Other (¹)
Total Business
1Q23
$1,128
$905
$739
$184
$2,956
Q/Q%
Change
3.4%
(3.1%)
(4.9%)
(9.4%)
(1.6%)
% Total
38.2%
30.6%
25.0%
6.2%
100%
Direct
Margin (2)
-83%
-65%
-78%
-26%
-73%
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