AVYA - Avaya shares leap 15% after FQ1 revenue beat raised full-year outlook

Avaya (AVYA) shares are surging 15.4% after the opening bell following this morning's fiscal Q1 revenue beat and raised full-year revenue and EBITDA forecasts.For the quarter, revenue topped consensus with 4% Y/Y growth to $743M. Non-GAAP EPS fell $0.07 short of estimates with $0.90.OneCloud ARR increased 38% Q/Q to $262M.Cloud, Alliance Partner & Subscription grew to 34% of the revenue mix, up 18% Y/Y.Adjusted EBITDA totaled $190M, or 26% of revenue.The company is also launching a term loan amendment transaction today that includes making a $100M prepayment to extend the maturity of outstanding Tranche B loans due December 2024 to September 2027.“We are pleased to report first quarter results that exceeded expectations across all key metrics. Navigating a very challenging business environment, we emerged from 2020 even stronger. This success reflects the significant progress we continue to make on our transformation into an enterprise leader in cloud-based communications and collaboration solutions,” says CEO Jim

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Avaya shares leap 15% after FQ1 revenue beat, raised full-year outlook