Lumen misses first-quarter revenue estimates on declining wireline demand

April 30 (Reuters) - Telecommunications services firm Lumen Technologies missed Wall Street estimates for quarterly revenue on Tuesday as customers move away from its core local wireline telephone services to wireless carriers.

The Monroe, Louisiana-based firm has been facing continued demand weakness coupled with massive debt, while a decline in traditional internet services has hurt its top-line growth.

It had earlier said the macro environment and the overhang of its creditor discussions would pressure results over the next few quarters.

Lumen has a network of fiber optic and copper cables and provides cloud-based communication services and IT solutions to businesses and users, helping them manage calls, messages and video meetings via a single interface.

The company posted net revenue of $3.29 billion in the first quarter, compared with analysts' average estimate of $3.37 billion according to LSEG data, a 12% fall from a year earlier.

On an adjusted basis, the company posted a loss of 4 cents per share in the first quarter, compared with earnings of $0.10 per share a year ago.

Earlier this month, Lumen said it plans to reduce its workforce by less than 7%, which would be completed by the second quarter.

The company said in January it had signed a deal with a group of lenders that will push out its debt maturities to at least 2029 and provide it with access to more than $2 billion in fresh capital.

It completed the sale of its EMEA business to London-based Colt Technology for $1.8 billion in November, as part of a digital transformation process necessary to hold out against bigger rivals in the long run.

Lumen's peer Verizon said last week that it lost fewer-than-expected wireless subscribers and beat estimates for quarterly profit, owing to its flexible plans and streaming bundles. (Reporting by Juby Babu in Mexico City; Editing by Pooja Desai)