CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

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.

Gold

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

XRP/USD

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

US100

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

BTC/USD

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.

What is your sentiment on MSFT?

377.70
Bullish
or
Bearish
Vote to see Traders sentiment!

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

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

Related topics

Rate this article

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.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading