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Why Avaya Stock Just Crashed and Burned

TheMotleyFool

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Wednesday is turning out to be a not fun day to own shares of Avaya Holdings (NYSE: AVYA) stock. Heading into the fiscal first quarter of 2022, analysts had forecast that the cloud communications software provider would earn $0.68 per share on sales of more than $736 million. Instead, Avaya reported this morning that it earned only $0.42 per share, and on sales of just $713 million.

As of 1:20 p.m. ET, Avaya stock is down 20.7%.

Image source: Getty Images.

Source Fool.com

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