Avaya (AVYA, $15.52) misses revenue target in first quarter

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.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.