AVYA - Avaya stock -10.9% after earnings misses beat from FQ1 and FY guidance

Avaya ([[AVYA]] -10.8%) FQ4 reports revenue of $755M (+4% Y/Y).Software and services were 88% of revenue, up 5 points Y/Y.Subscription TCV increased $181M in Q4; YTD booked ~$400M of TCV.Avaya Cloud Office launched in Europe enhancing with an Avaya branded unified desktop app, Avaya branded video, network performance and video quality controls, and adoption and usage analytics.GAAP operating income at $74M vs. $53M previous quarter.Net income scaled $37M vs. last quarters $9M.Cash and cash equivalents were $727M.Financial Outlook FQ1 2021: GAAP revenue of $710M-730M; GAAP operating income $44M-59M; GAAP operating margin ~6-8%; Non-GAAP operating income $140M-155M; Non-GAAP operating margin ~20-21%; Adjusted EBITDA $165M-180M; Adjusted EBITDA margin 23-25%.Financial Outlook FY 2021:  GAAP revenue of $2.88B-2.93B; GAAP operating income $168M-218M; GAAP operating margin ~6-7%; Non-GAAP operating income $558M-608M; Non-GAAP operating margin ~19-21%; Adjusted EBITDA $660M-710M; Adjusted EBITDA margin 23-24%; CFO 2-3% of non-GAAP revenue; CAPS revenue growth of ~$300M, which will represent between 35-40% of Avaya's

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Avaya stock -10.9% after earnings misses beat, from FQ1 and FY guidance