BlackBerry Pushes Forward With Q4 Earnings

March 28, 2018 by 247chrislange

BlackBerry Ltd. (NYSE: BB) reported its fiscal fourth-quarter financial results before the markets opened on Wednesday. The company said that it had $0.05 in earnings per share (EPS) and $233 million in revenue, versus $0.01 in EPS on revenue of $216.81 million. In the same period of last year, BlackBerry said it had EPS of $0.04 and $297 million in revenue.

For the quarter, software and services revenue totaled $218 million, breaking the record set last quarter

In this time, the firm launched BlackBerry Jarvis, a binary static analysis software-as-a-service tool that can help automakers secure the software supply chain. It also expanded BlackBerry Radar partnership with Fleet Complete to its BigRoad Freight program, which supports over 500,000 drivers.

In terms of the outlook for the coming fiscal year, BlackBerry expects software and services billings growth to be in the double-digits and that EPS will be positive. The consensus estimates call for $0.09 in EPS on $885.44 million in revenue.

On the books, total BlackBerry cash, cash equivalents and short-term and long-term investments were approximately $2.4 billion.

John Chen, executive chairman and CEO of BlackBerry, commented:

I am very pleased with our execution. We achieved another record quarter in software and services revenue as we grew across all three of our software businesses. We also generated positive non-GAAP EPS and cash flow from operations for the fiscal year. Customers and partners recognize our technology innovation and market leadership. BlackBerry`s market opportunities in unified endpoint management and embedded software are significant and synergistic, and our innovation and execution give us confidence to be a leader in the Enterprise of Things.

Shares of BlackBerry were last seen up about 1% at $12.55 on Wednesday, with a consensus analyst price target of $11.54 and a 52-week trading range of $6.83 to $14.55.