BlackBerry (BB) Up On Q3 Earnings & Sales Beat, View Intact
Zacks Investment Research | Dec 20, 2017 09:00PM ET
Shares of BlackBerry Limited (NYSE:BB) have gained 12% to $12.17 at the close of trading on Dec 20 following the release of third-quarter fiscal 2018 (ended Nov 30, 2017) earnings report. The company reported earnings per share (excluding 55 cents from non-recurring items) of 3 cents, comparing favorably with the Zacks Consensus Estimate of a loss of a penny. Moreover, the bottom line expanded 50% year over year. Results were boosted by robust software sales.
Results in Detail
Total revenues (on a reported basis) in the quarter under review were $226 million, down 24.9% year over year. While total adjusted revenues came in at $235 million. The Zacks Consensus Estimate for the metric was pegged at $216 million.
Segment-wise, Enterprise software and services generated approximately 45.1% of the revenues while BlackBerry Technology Solutions contributed 18.3%. Licensing, IP and other raked in 21.3% of the sales, whereas Handheld devices contributed 3.8%. Services access fees revenues accounted for the balance. Also, the company had around 3,000 enterprise clients on board in the reported quarter.
Geographically, North America has contributed 58.9% of the total revenues. While Europe, the Middle East and Africa have notched up 30.5% of the revenue pie. Similarly, Latin America and the Asia-Pacific regions have yielded 1.3% and 9.3%, respectively, of the total revenues in fiscal third quarter.
Quarterly operating income (on an adjusted basis) came in at $16 million compared with $12 million in the year-ago quarter.
The company exited third-quarter fiscal 2018 with cash and cash equivalents of $529 million compared with $734 million at the end of fiscal 2017. Long-term debt in fiscal third quarter was $816 million in comparison to $591 million at the end of fiscal 2017.
BlackBerry Limited Price, Consensus and EPS Surprise
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