April 30 (Reuters) - Telecommunications services firm

Lumen Technologies ( LUMN ) 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.