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Avaya Holdings Sinks on First-Quarter Revenue Miss

Rob Lenihan

tumbled 12.46% to $15.52 Monday after the digital communications company missed its first-quarter sales guidance. Avaya filed for bankruptcy protection under Chapter 11 in January 2017 and emerged during the first quarter of fiscal 2018. Avaya posted revenue of $738 million, compared with $752 million a year ago, and down from previous guidance of $750 million to $775 million.