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MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

BlackBerry (BBRY) Misses on Revenues in Q2

Zacks Equity Research
Updated

BlackBerry Limited BBRY designs, manufactures, and sells wireless solutions to the mobile communications market. Through the development and integration of hardware, software, and services, BlackBerry provides solutions for seamless access to time-sensitive information, including e-mail, messaging, as well as Internet and Intranet-based applications.

Earlier in the year, BlackBerry launched its much-awaited Android-based handset PRIV. The device has already witnessed significant market response and is expected to mitigate losses at the company’s smartphone business.

Lately, BlackBerry is exploring several business options by acquiring many companies which will likely help BlackBerry offset escalating losses in its smartphone business. BlackBerry’s BES12 platform is increasingly gaining traction. Moreover, launch of Android-based handset PRIV may also act to be a catalyst for BlackBerry going forward.

BlackBerry has an impressive record with respect to the bottom line. The company has delivered positive surprises in three of the last four quarters, with an average beat of 22.32%.

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Zacks Rank: Currently, BlackBerry has a Zacks Rank #3 (Hold), but that could definitely change following BlackBerry’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: BlackBerry Limited reported loss (on an adjusted basis) of 3 cents per share which is narrower than the Zacks Consensus Estimate of a loss of 10 cents per share.

Revenue: BlackBerry reported revenues of $352 million. This missed the Zacks consensus estimate of $390.7 million.

BLACKBERRY LTD Price and EPS Surprise

 

BLACKBERRY LTD Price and EPS Surprise | BLACKBERRY LTD Quote

Key Stats:BlackBerry is on track to achieve 30% growth in software and service revenue. The company expects the bottom line in the range of $0.00 to -$0.05 per share in fiscal 2017. The earlier outlook had hinted at a loss of $0.15 per share.

 

 

Check back later for our full write up on this BlackBerry earnings report later!

 

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Zacks Investment Research