Avaya Holdings (AVYA) Q2 Revenue Tops Consensus, Offers Q3 Guidance

Avaya Holdings (NYSE: AVYA) reported Q2 EPS of ($7.24), may not compare to the analyst estimate of ($0.12). Revenue for the quarter came in at $682 million versus the consensus estimate of $624.2 million.

• Net loss was $672 million, which includes a non-cash goodwill impairment charge of $624 million

Financial Outlook - 3Q Fiscal 2020 - unless otherwise noted, values reflect March 31st, 2020 FX rates.

• GAAP revenue of $674 million to $704 million; Non-GAAP revenue of $675 million to $705 million
• This non-GAAP revenue figure reflects a constant currency decline of 5% to 1%
• GAAP operating income of $23 million to $43 million; GAAP operating margin of ~3% to 6%
• Non-GAAP operating income of $126 million to $146 million; non-GAAP operating margin of ~19% to 21%
• Adjusted EBITDA of $150 million to $170 million; Adjusted EBITDA margin of ~22% to 24%

(Consensus is for Q3 revenue of $618.5 million)

Financial Outlook - Fiscal Year 2020

In light of the uncertainties in the global business environment arising from the effects of COVID-19, the company is withdrawing its prior annual guidance for fiscal year 2020.

For earnings history and earnings-related data on Avaya Holdings (AVYA) click here.

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