Lumen Technologies shares slide after posting loss of nearly $9 billion

FILE PHOTO: A street sign marks Wall Street outside the New York Stock Exchange (NYSE) in New York, U.S., February 24, 2022. REUTERS/Caitlin Ochs/File Photo

(Reuters) - Lumen Technologies reported a massive quarterly net loss of $8.74 billion on Tuesday, hurt by an impairment charge of nearly $9 billion in the second quarter.

Shares of the Monroe, Louisiana-based company, which has lost more than 61% of their value this year, dropped more than 8% in trading after the bell.