BlackBerry's (BBRY) Q1 Earnings Break Even, Revenues Miss
Zacks Investment Research | Jun 22, 2017 11:25PM ET
BlackBerry Limited (NASDAQ:BBRY) reported breakeven earnings in fiscal first-quarter 2018 (ended May 31) on an adjusted basis, better than a loss of 2 cents per share in the year-ago period. The Zacks Consensus Estimate was of a loss of 2 cents per share. The bottom-line was boosted by the receipt of the arbitration payment of $940 million from U.S. chipmaker Qualcomm Inc. (NASDAQ:QCOM) .
Results in Detail
Total revenue in the reported quarter was $244 million, down 39% year over year. The top line missed the Zacks Consensus Estimate of $264 million. The revenue miss disappointed investors. Consequently shares of the Zacks Rank #3 (Hold) company declined significantly in pre-market trading. You can see
Segment-wise, Enterprise software and services generated approximately 41.4% of the revenues, while BlackBerry Technology Solutions contributed 14.7%. Licensing, IP and other generated 13.1% of the revenues, whereas Handheld devices contributed 15.2%. Services access fees revenues accounted for the balance. Also, the company had over 3,000 enterprise clients in the reported quarter.
Geographically, North America has contributed 54% to the total revenue. While Europe, the Middle East and Africa accounted for 29.8%. Similarly, the Latin America and the Asia-Pacific regions have generated 1.7% and 14.5%respectively, of the total revenue in fiscal first quarter.
Quarterly operating income (on a reported basis) came in at $536 million. However, the company had reported a loss of $655 million in the year-ago quarter.
The company exited first-quarter fiscal 2018 with cash and cash equivalents of $933 million compared with $734 at the end of fiscal 2017. Long-term debt in fiscal first quarter is $809 million as against $591 million at the fiscal 2017-end.
BlackBerry Limited Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.