With a new CEO in the driver’s seat and a downturn in quarterly revenues, the former enterprise communications giant Avaya is once again facing financial obstacles. And by its own words, the company might be unable to overcome them enough to avoid a second bankruptcy.
A Quick Look at the Latest Financial Report
This week, Avaya released preliminary financial results for its third quarter of fiscal year 2022, ending June 30, 2022. In the release, the company reported that revenues were $577 million, down 20% year-over-year in constant currency. Beyond the dip in revenues, industry analysts and watchers have paid close attention to one particular passage in the release as a sign that the company might have a hard time course-correcting:
