Stock Monitor: Barracuda Networks Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 11, 2018 / Active-Investors.com has just released a free earnings report on BlackBerry Ltd (NYSE: BB). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BB. The Company posted its financial results on December 20, 2017, for the third quarter of the fiscal year 2018. The Canadian multinational Company reported record software and services revenue. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Barracuda Networks, Inc. (NYSE: CUDA), which also belongs to the Technology sector as the Company BlackBerry. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, BlackBerry most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended November 30, 2017, BlackBerry's total revenues decreased 21.8% to $226 million from $289 million in Q3 FY17. For the reported quarter, the Company's adjusted revenue decreased 21.9% to $235 million from $301 million in the third quarter of 2017. The Company's adjusted revenue surpassed analysts' expectations of $215.4 million.
For the reported quarter, the Company's software and services revenue was $190 million.
For the reported quarter, the Company's gross profit decreased 13% to $168 million from $193 million in Q3 FY17. For the reported quarter, the Company's gross margin increased 750 basis points to 74.3% of revenue from 66.8% of revenue in Q3 FY17. For the reported quarter, the Company's adjusted gross profit decreased 14.3% to $180 million from $210 million in Q3 FY17. For the reported quarter, the Company's adjusted gross margin increased 980 basis points to 76.6% of revenue from 66.8% of revenue in Q3 FY17.
For the reported quarter, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 5.4% to $35 million from $37 million in Q3 FY17. For the reported quarter, the Company's adjusted EBITDA margin increased 300 basis points to 15% of revenue from 12% of revenue in Q3 FY17.
For the reported quarter, the Company's operating loss was $258 million compared to an operating loss of $114 million in Q3 FY17. For the reported quarter, the Company's adjusted operating income increased 33.3% to $16 million from $12 million in Q3 FY17.
During Q3 FY18, BlackBerry's earnings before tax (EBT) was negative $275 million compared to negative $118 million in the same period of last year.
For the reported quarter, BlackBerry's net loss was $275 million compared to a net loss of $117 million in Q3 FY17. During Q3 FY18, the Company's diluted earnings per share (EPS) was negative $0.52 compared to negative $0.22 in the comparable period of last year. For the reported quarter, BlackBerry's adjusted net income increased 77.8% to $16 million on a y-o-y basis from $9 million in Q3 FY17. During Q3 FY18, the Company's adjusted diluted EPS was $0.03, surpassing analysts' expectations of $0.0.
As on November 30, 2017, BlackBerry's cash and cash equivalents decreased 27.9% to $529 million from $734 million as on February 28, 2017. For the reported quarter, the Company's long-term debt, less current maturities, increased 38.1% to $816 million from $591 million in Q4 FY17.
For the reported quarter, the Company's net accounts receivables decreased 18% to $164 million from $200 million in Q4 FY17. For the reported quarter, the Company's accounts payable decreased 50.8% to $63 million from $128 million in Q4 FY17.
In the first nine months of 2017, the Company's net cash provided by operating activities was positive $866 million compared to negative $242 million in the corresponding period of last year.
For Q4 FY18, the Company's expects adjusted revenue to be in the range of $920 million - $950 million.
Stock Performance Snapshot
January 10, 2018 - At Wednesday's closing bell, BlackBerry's stock dropped 5.07%, ending the trading session at $13.67.
Volume traded for the day: 12.13 million shares, which was above the 3-month average volume of 5.12 million shares.
Stock performance in the last month – up 33.37%; previous three-month period – up 20.55%; past twelve-month period – up 91.99%; and year-to-date – up 22.38%
After yesterday's close, BlackBerry's market cap was at $7.06 billion.
Price to Earnings (P/E) ratio was at 14.27.
The stock is part of the Technology sector, categorized under the Communication Equipment industry.
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