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Shares of Avaya Holdings (NYSE: AVYA) , a cloud communications company, were tumbling this morning after the company reported worse-than-expected second-quarter results.
The tech stock had fallen by 15.7% as of 11:16 a.m. ET.
Avaya reported second-quarter non-GAAP (adjusted) earnings of $0.53 per share, which was down from $0.74 in the year-ago quarter and also below Wall Street's consensus estimate of $0.61 per share.