Consumer Electronics

How BlackBerry Offered Up a Big Q2 Beat

BlackBerry Ltd. (NYSE: BB) reported its fiscal second-quarter financial results before the markets opened on Friday. The company said that it had $0.04 in earnings per share (EPS) and $210 in revenue, compared with consensus estimates that called for $0.01 in EPS and revenue of $207.71 million. The same period of last year reportedly had EPS of $0.05 and $249 million in revenue.

Overall, 81% of second-quarter software and services revenue (excluding IP licensing and professional services) was recurring.

Lower expenses helped offset a 3% drop in its enterprise software and services revenue to $88 million.

Looking ahead to the 2019 fiscal full year, the company expects to see positive EPS and total company software and services billings growth to be double-digits. The consensus estimates are $0.09 in EPS and $892.27 million in revenue for the coming year.

John Chen, executive chair and CEO at BlackBerry, commented:

In the quarter, we exceeded our financial expectations driven by sequential growth in both our BlackBerry Technology Solutions and Enterprise Software and Services businesses. I am very encouraged by BlackBerry’s leadership opportunities in the fast-growing Enterprise of Things, and by our strategy to capitalize on these significant future opportunities with BlackBerry Spark, our platform to securely communicate and collaborate between smart endpoints.

Shares of BlackBerry were last seen up about 8% at $10.99, with a consensus analyst price target of $11.61 and a 52-week range of $9.46 to $14.55.