Categories AlphaGraphs, Earnings, Technology

Earnings: BlackBerry jumps over 3% after surpassing Q3 expectations

BlackBerry (BB) Thursday reported third-quarter results that surpassed analysts’ expectations. Revenue was flat compared to the year-over period at $226 million, but higher than $212.58 million expected by analysts. Adjusted earnings of 5 cents per share was above analysts’ prediction of 2 cents per share.

BB shares rose 3.4% during pre-market trading, immediately following the announcement.

BlackBerry third quarter 2019 Earnings Infographic

The phone maker-turned-service provider reaffirmed its outlook for 2019. BlackBerry continues to expect double-digit growth in software and services billings growth. Meanwhile, software and services revenue is projected to see an 8-10% growth.

Adjusted EPS and free cash flow are anticipated to be positive for the full year.

CEO John Chen said, “I’m excited about the pending Cylance acquisition as it will extend our strategy with cutting-edge AI cybersecurity capabilities and, combined with BlackBerry’s capabilities, present the opportunity for revenue acceleration in our businesses, including UEM, QNX, and Spark.

BlackBerry’s cybersecurity push to get a fillip from Cylance buyout

The Waterloo, Canada-based company is depending heavily on mobile security and enterprise software, which form a major part of its new area of operation. BlackBerry is also venturing into the emerging fields of the internet of things (IoT) and autonomous driving, both of which holds a lot of potential.

In the trailing 52 weeks, the shares are down almost 40%. The stock is currently trading near its lowest levels in the past 21 months.

 

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text 

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

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