Q1 27 EPS
$0.04
BEAT +53.85%
Est. $0.03
Q1 27 Revenue
$152.9M
BEAT +10.87%
Est. $137.9M
vs S&P Since Q1 27
+19.7%
BEATING MARKET
BB +21.2% vs S&P +1.4%
Market Reaction
Did BB Beat Earnings? Q1 2027 Results
BlackBerry delivered a standout first quarter for fiscal 2027, posting earnings of $0.04 per share against a consensus estimate of $0.03, a 53.85% beat that extended the company's streak of topping EPS expectations to five consecutive quarters. Reven… Read more BlackBerry delivered a standout first quarter for fiscal 2027, posting earnings of $0.04 per share against a consensus estimate of $0.03, a 53.85% beat that extended the company's streak of topping EPS expectations to five consecutive quarters. Revenue climbed 25.6% year-over-year to $152.90 million, clearing the $137.91 million consensus by 10.87%, as balanced momentum across both the QNX embedded software and Secure Communications segments drove results well ahead of expectations. QNX revenue rose 26% to $72.30 million with adjusted gross margins expanding five percentage points to 86%, while Secure Communications grew 24% to $73.60 million with segment adjusted EBITDA more than doubling, together illustrating how the company's two core franchises are scaling in tandem. The quarter also saw free cash flow turn positive at $1.70 million. With shares up sharply year-to-date heading into the print, the results provide concrete operational underpinning for that move. Looking ahead, BlackBerry guided full-year FY27 revenue of $594 million to $621 million and operating cash flow of approximately $100 million.
Key Takeaways
- • 26% YoY revenue growth driven by solid performance across QNX and Secure Communications
- • Adjusted gross margin improved approximately 4 percentage points YoY to 78.6%
- • QNX segment adjusted gross margin expanded 5 percentage points YoY to 86%
- • Adjusted EBITDA grew 144% YoY to $36.3 million with margin expanding from 12% to 24%
- • Both QNX and Secure Communications achieved Rule of 40 performance
- • First positive operating cash flow fiscal first quarter in nine years (excluding FY24 patent sale)
BB Forward Guidance & Outlook
For Q2 FY2027 (ending August 31, 2026), BlackBerry guides total revenue of $137-$148 million, QNX revenue of $70-$75 million, Secure Communications revenue of $57-$63 million, Licensing revenue of approximately $10 million, total adjusted EBITDA of $20-$30 million, non-GAAP basic EPS of $0.03-$0.04, and operating cash flow of breakeven to $10 million. For full-year FY2027, the company guides total revenue of $594-$621 million, QNX revenue of $295-$312 million, Secure Communications revenue of $270-$280 million, Licensing revenue of approximately $29 million, total adjusted EBITDA of $119-$139 million, non-GAAP basic EPS of $0.16-$0.20, and operating cash flow of approximately $100 million.
BB YoY Financials
Q1 2027 vs Q1 2026, source: SEC Filings
BB Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter results demonstrate continued momentum following our transformation, as we advance our strategy to drive profitable growth. We exceeded expectations for revenue, profitability, and cash generation through solid performance by our world class QNX and Secure Communications teams.”
— John J. Giamatteo, Q1 2027 Earnings Press Release
BB Earnings Trends
BB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BB EPS Trend
Earnings per share: estimate vs actual
BB Revenue Trend
Quarterly revenue: estimate vs actual
BB Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $0.03 | $0.04 | +53.85% | $152.9M | +10.87% |
| Q4 26 BEAT FY | $0.04 | $0.06 | +38.57% | $156.0M | +7.92% |
| FY Full Year | $0.15 | $0.16 | +9.81% | $549.1M | +2.18% |
| Q3 26 BEAT | $0.04 | $0.05 | +36.24% | $141.8M | +3.10% |
| Q2 26 BEAT | $0.01 | $0.04 | +185.71% | $129.6M | +6.20% |
| Q1 26 BEAT | $0.00 | $0.02 | +669.23% | $121.7M | +8.48% |
| Q4 25 BEAT FY | $0.00 | $0.03 | +710.81% | $141.7M | +6.70% |
| FY Full Year | $0.01 | $0.02 | +150.00% | $534.9M | -3.48% |