BlackBerry (BB) Q3 Earnings Beat On Solid Revenues, Stock Up
Zacks Investment Research | Dec 22, 2019 08:51PM ET
BlackBerry Limited (NYSE:BB) reported healthy third-quarter fiscal 2020 (ended Nov 30, 2019) results on solid revenue growth. The company also remained confident to meet the consensus estimates for fiscal 2020 or even surpass them based on strong year-to-date performance. Buoyed by the robust quarterly results, shares were up 12.4% post earnings release to close at $6.53 as on Dec 20, 2019.
Bottom Line
On a GAAP basis, net loss for the quarter was $32 million or loss of 7 cents per share against net income of $59 million or 1 cent per share in the year-ago quarter. The year-over-year decline was primarily due to higher operating expenses.
Excluding non-recurring items, BlackBerry recorded non-GAAP earnings of $17 million or 3 cents per share, which surpassed the Zacks Consensus Estimate by 2 cents.
BlackBerry Limited Price, Consensus and EPS Surprise
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