Shares of digital communications products, solutions, and services provider Avaya Holdings Corp. (AVYA) are falling more than 11% Wednesday morning after missing fourth-quarter earnings.
The company reported fourth-quarter net income of $37 million or $0.39 per share compared with net loss of $34 million or $0.31 per share a year ago. Analysts polled by Thomson Reuters expected earnings of $1.2 per share.
Revenues for the quarter increased to $755 million compared with $723 million a year ago. The consensus estimate stood at $733.55 million
For the first quarter, the company expects revenue to be in the range of $710 million to $730 million. Analysts see revenue of $720.45 million for the quarter.
For the full-year, revenue is expected to be in the range of $2.875 billion to $2.925 billion; The consensus estimate stands at $2.89 billion.
AVYA stock is currently at $17.33, and has traded in the range of $6.13- $19.70 in the past 52 weeks.
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