AVYA

There seems to be no respite for the investors of cloud communications solutions provider Avaya Holdings Corp. (AVYA) anytime soon. Only days ago, the company reported disappointing preliminary third-quarter numbers on multiple fronts. It announced cost cuts, lowered revenue and EBITDA projections, hinted at an impairment charge, and sacked its CEO, Jim Chirico. Shares had dropped 57% in response on July 29. Dismal Third-Quarter Numbers Avaya’s stock sank 45.5% yesterday after the release of its preliminary third-quarter numbers and business update. All in all, shares are now down 97% so far in 2022. Its Q3 revenue dropped 21.2% over the prior year to $577 million.
https://www.tipranks.com/news/article/avaya-stock-continues-to-face-challenges-post-disappointing-q3?utm_source=advfn.com&utm_medium=referral