202011 May

Avaya Reports Second Quarter Fiscal 2020 Financial Results


SANTA CLARA, Calif.--(BUSINESS WIRE)--Avaya Holdings Corp. (NYSE: AVYA) today reported financial results for the second quarter ended March 31, 2020. Demand for video collaboration, with our Spaces solution, contact center upgrades to include remote work from anywhere capabilities, and the need for flexible consumption models like our cloud and subscription offers has accelerated, and no other company operates with the scale or reach that Avaya does. Our results underscore the mission critical nature of the solutions we provide, the value we deliver, and the partnership we have with our global base of customers.” Mr. Chirico added, “The company has improved on all key strategic metrics as we continue the deliberate move to a SaaS and Cloud model. The continued mix shift of our revenue reflects that the vision and strategy we laid out is taking hold and that our transformation to a software, SaaS, and Cloud focused company is irreversible.” During the quarter, Avaya recorded a non-cash goodwill impairment charge of $624 million related to the company’s Products & Solutions segment. Adjusted EBITDA excludes the impact of earnings or charges resulting from matters that we do not consider indicative of our ongoing operations but that still affect our net income.

Source: Businesswire