Avaya Holdings Corp. reported its first quarter revenue of $738 million, missing previous guidance of $750 million to $775 million.
Nevertheless, the cloud solutions company’s total contract value surged +8% year- over -year to $2.4 billion. CEO Jim Chirico indicated that while sales were affected by “a few discrete items versus our outlook”, he also emphasized that the company’s clients/customers continue to back its innovations.
Avaya projects its second quarter revenue to range from $730 million to $760 million. It expects its full-year revenue to range between $3.01 billion and $3.12 billion.