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Avaya (AVYA) up 11% pre-market on fiscal Q4 earnings

By Joyanta Acharjee

14:23, 22 November 2021

An Avaya business phone
The company provided guidance for the current first quarter – Photo: Shutterstock

Avaya stock rose on Monday as the cloud communications company posted analyst-beating earnings.

For the three months to 30 September, net income fell to $6m (£4.5m) from $37m a year earlier. Revenue rose 3.5% to $760m from $755m in the fourth quarter of fiscal 2020.

Adjusted earnings per share (EPS) fell to 77 cents from 93 cents in the prior-year period. GAAP EPS came to 6 cents compared with 39 cents in the same period a year ago. 

Analysts were expecting earnings of 72 cents on revenue of $738.7m, according to figures widely available on financial news sites.

Stock up 11%

In pre-market trading on the NYSE, shares were up 11% at $20.

“This year marked a real and substantive milestone for the company, and I could not be prouder of the performance or more thankful for the commitment of our customers and partners and performance of our global team as we have navigated a purposeful and deliberate journey of transformation to be an enterprise cloud leader,” Avaya CEO Jim Chirico said in a press release.


2,017.18 Price
+0.000% 1D Chg, %
Long position overnight fee -0.0194%
Short position overnight fee 0.0112%
Overnight fee time 22:00 (UTC)
Spread 0.30


0.61 Price
+1.200% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


15,936.60 Price
-0.190% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


37,356.45 Price
+0.540% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

During the fourth quarter, total contract value reached $2bn.

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Earnings guidance

The company also provided guidance for the current first quarter. It sees adjusted earnings of 63 cents to 75 cents per share with revenue in the range of $725m to $745m.

Avaya is known for its range of office phones and voice-over-IP phone systems as well as cloud communications services.

In August, Avaya announced a strategic relationship with Microsoft on their cloud offerings.

Read more: The transforming power of cloud computing

Markets in this article

Microsoft Corp (Extended Hours)
377.70 USD
-0.73 -0.190%
Microsoft Corp (Extended Hours)
377.70 USD
-0.73 -0.190%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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