Where BlackBerry Can Go From Here
BlackBerry released better-than-expected fiscal fourth-quarter financial results before the markets opened on Friday.
BlackBerry Ltd. (NYSE: BB) released its fiscal fourth-quarter financial results before the markets opened on Friday. The firm posted $0.11 in earnings per share (EPS) and $257 million in revenue, which compares with consensus estimates of $0.06 in EPS and revenue of $241.66 million. The same period of last year reportedly had EPS of $0.05 on $239 million in revenue.
During the most recent quarter, software and services revenue grew 14% to $248 million. Approximately 93% of fourth-quarter Software and Services revenue (excluding IP licensing and professional services) was recurring after including perpetual licenses.
The company did not release any guidance in the report. However, consensus estimates call for $0.03 in EPS and $216.92 million in revenue for the fiscal first quarter.
On the books, BlackBerry’s cash, cash equivalents and investments totaled $1.0 billion, down from 2.3 billion in the same period of last year.
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John Chen, executive board chair and chief executive of BlackBerry, commented:
We delivered on all of our fiscal 2019 financial commitments and created a solid foundation for continued profitable revenue growth in fiscal 2020. I am pleased to note that BlackBerry is recognized as a $1 billion plus revenue company in security software. The combination of BlackBerry Cylance’s lightweight AI and machine learning cybersecurity capabilities with BlackBerry Spark, our secure communications platform, will make our endpoint management and embedded software products stronger and more essential for enterprises to generate value from the Internet of Things.
Shares of BlackBerry closed Thursday at $8.88, in a 52-week range of $6.57 to $12.55. The consensus price target is $10.50. Following the announcement, the stock was up about 6.5% at $9.46 in early trading indications Friday.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
