Categories Earnings, Technology

BlackBerry beats Q3 earnings estimates

BlackBerry Limited (NYSE: BB) beat earnings estimates for the third quarter of 2020, sending the stock climbing 5.8% in premarket hours on Friday. The consensus estimate was for earnings of $0.02 per share on revenue of $275 million.

The company reported an 18% increase in GAAP revenue to $267 million during the quarter compared to the same period a year ago. Adjusted revenue increased 23% to $280 million.

BlackBerry reports Q3 2020 earnings results

On a GAAP basis, BlackBerry reported a net loss of $32 million compared to a net income of $59 million last year. GAAP loss per share was $0.07 compared to a loss of $0.01 per share last year. Adjusted EPS totaled $0.03.

Total GAAP software and services revenue increased 21% year-over-year to $262 million. On an adjusted basis, software and services revenue rose 26% to $275 million. Adjusted recurring software and services revenue (excluding IP licensing and professional services) was over 90%.

Also read: Accenture Q1 2020 Earnings Report

On a geographic basis, revenues increased in the North America and EMEA regions while in Other regions, it remained flat versus the prior-year quarter. By products and services, IoT revenues dipped slightly during the quarter versus last year while licensing revenues saw a double-digit increase. BlackBerry Cylance generated $40 million in revenues during the quarter.

Total cash, cash equivalents, short-term and long-term investments was $970 million as of November 30, 2019. Capital expenditures totaled $3 million in the third quarter.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

HPE Earnings: Hewlett Packard Q1 2024 profit drops but beats Street view

Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) on Thursday reported lower earnings and revenues for the first quarter of 2024. Earnings, however, exceeded analysts’ forecasts. First-quarter profit, excluding

After entering FY24 on a high note, Costco is all set to report Q2 results

Costco Wholesale Corporation (NASDAQ: COST) stands out in the retail space for its unique business model that enables the warehouse behemoth to grow store traffic and market share constantly. Currently,

Hormel (HRL) expects continued momentum from its foodservice business in FY2024

Shares of Hormel Foods Corporation (NYSE: HRL) soared over 13% on Thursday after the company delivered better-than-expected earnings results for the first quarter of 2024 and reaffirmed its outlook for

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