Categories Earnings, Technology

BlackBerry beats Q2 earnings expectations; revenues miss estimates

BlackBerry Limited (NYSE: BB) reported better-than-expected earnings for the second quarter of 2020 but revenues fell short of estimates. The stock tumbled over 11% in premarket hours on Tuesday.

Total revenue of $244 million was up 16% from the same period last year but below forecasts of $265 million. On an adjusted basis, revenue grew 22% to $261 million.

BlackBerry beats earnings estimates for Q2 2020 but revenues fall short of expectations

On a GAAP basis, the company reported a net loss of $44 million compared to a net income of $43 million last year. GAAP loss per share was $0.10 compared to a loss of $0.04 per share in the year-ago quarter. Adjusted EPS was $0.00, better than the estimated loss of $0.01 per share.  

On a GAAP basis, Software and Services revenues grew 24% year-over-year to $239 million. Adjusted Software and Services revenues rose 30% to $256 million.

Also read: BlackBerry Q2 2020 Earnings Preview

During the quarter, IoT revenues fell 3% to $133 million versus the year-ago period. Revenues from BlackBerry Cylance totaled $35 million and Licensing revenues grew 27% to $71 million. On a geographic basis, revenues in North America grew 34% to $179 million while in EMEA and other regions, the company posted double-digit revenue declines.

For the full year of 2020, the company expects adjusted revenue growth to be 23-25%, driven by a double-digit percentage increase in billings year-over-year.

BlackBerry promoted Steve Rai from deputy CFO to CFO and named Steve Capelli as the new Chief Revenue Officer. Mr. Capelli will be in charge of business development activities. Both changes will take effect on October 1, 2019.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Earnings calendar for the week of May 17

Benchmark stock indexes pared their recent gains early this week amid elevated inflation concerns, but regained a part of the momentum later aided by recovery in tech stocks. The Dow

Aurora Cannabis (ACB) Earnings: 3Q21 Key Numbers

Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as

Walt Disney (DIS) Q2 revenue down 13%; earnings beat estimates

Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top