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Debt, declining revenue threaten future of cloud-communication company Avaya

August 10, 2022

Via: CIO Dive
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Avaya appointed Masarek, former Vonage CEO, on July 28, effective Aug. 1. The company also announced the departure of CEO Jim Chirico and downgraded its quarterly earnings expectations.

The company reported revenue of $577 million on Tuesday, a drop of 20% from the same quarter last year, and a net loss of $1.4 billion, despite growth in its OneCloud iPaaS division. OneCloud was up 97% year-over-year, reaching $838 million.

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