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Avaya Turns a Major Corner, Completes Cloud Transition

November 22, 2021

Via: No Jitter

Today, Avaya announced its fourth-quarter results for the fiscal year 2021, ending September 30, 2021, and it put up a solid beat and raise. For the quarter, the company posted revenues of $760 million, which was well ahead of the consensus estimate of $740.3 million. This quarter also marks the sixth consecutive quarter of growth for Avaya.

While this is notable, the big news is that 2021 revenue closed at $2.973 billion, up $100 million from 2020. While the 2.6% growth might seem modest, it is actually impressive given the company is reversing a decade-long run of year-over-year revenue declines, indicating Avaya turned a major corner in its business, completing the multi-year transition CEO Jim Chirico put in place when he took the helm in 2017.

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