|Bid||7.50 x 21500|
|Ask||8.31 x 3100|
|Day's Range||7.45 - 8.33|
|52 Week Range||6.57 - 12.00|
|Beta (3Y Monthly)||2.00|
|PE Ratio (TTM)||50.07|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||10.95|
(Bloomberg) -- BlackBerry Ltd. shares fell the most in a year after reporting sales from its software and services unit slowed and a recent acquisition contributed less of a boost than some analysts expected.Revenue in the fiscal first quarter was $247 million, the Waterloo, Ontario-based company said Wednesday, up 16% from a year earlier. BlackBerry reorganized its reporting units, combining the business technology solutions group with the enterprise software and services unit. Now grouped under the Internet-of-Things division, it reported revenue of $136 million, which was down from $147 million in the fourth quarter.Steven Li, an analyst at Raymond James, said any shortfall would have likely come from enterprise software, since the business technology solutions revenue stream is “typically stable and growing.” Part of the weakness also could have come from a reorganization of the sales division, according to Todd Coupland, an analyst at CIBC.After BlackBerry’s $1.4 billion acquisition of cybersecurity firm Cylance, which closed in February, some analysts were expecting to see stronger revenue contributions in the first full quarter in which the purchase is on the books. Revenue from Cylance was $32 million in the three months ended May 31. “People were hoping Cylance would beat expectations more than it did,” Coupland said in an interview. There are also concerns about Crowdstrike Holdings Inc., a competitor in cybersecurity, which is growing at a higher rate than Cylance, he said.Key InsightsAdjusted earnings per share of 1 cent beat analysts’ average estimate of breakeven in the quarter, as BlackBerry absorbed the Cylance acquisition.Shares fell as much as 10% to $7.47. It was the biggest decline for BlackBerry since last June. The stock had gained 17 percent through the close on Tuesday.Under Chief Executive Officer John Chen, the company has been positioning itself as a leader in cybersecurity. Cylance will enable BlackBerry to add artificial intelligence capabilities to its existing software products. The purchase was BlackBerry’s largest acquisition in seven years.BlackBerry is now focused on its connected and autonomous vehicle technology business, QNX, to drive growth. “The next thing that we have is to put the Cylance AI on to QNX,” Chen said on an earnings call.Know MoreEarlier this week, the Waterloo, Ontario-based company said its security and connectivity software was now installed in 150 million vehicles, up 25% from a year earlier. BlackBerry’s QNX technology is used by carmakers such as Honda Motor Co., Ford Motor Co., and BMW AG in driver assistance and hands-free systems, among other things.BlackBerry reaffirmed it expects annual adjusted revenue growth of 23%-27% in fiscal 2020.Read the statement here.(Updates with share trading this year. A previous version of this story corrected the day that company reported in second paragraph.)To contact the reporter on this story: Simran Jagdev in Toronto at email@example.comTo contact the editors responsible for this story: Molly Schuetz at firstname.lastname@example.org;David Scanlan at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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BlackBerry Ltd. reported fiscal first-quarter earnings on Wednesday that led with and were dominated by non-standard numbers, putting the company at risk of an enforcement action from the U.S. Securities and Exchange Commission.
On an adjusted basis, the company said it earned $5 million, or 1 cent a share, a shade above analysts' estimates of breakeven per share. "We are off to a good start to achieve our financial outlook for fiscal 2020," CEO John Chen said in a statement. BlackBerry in recent years has been slowly transitioning away from its bread-and-butter mobile hardware to so-called software enterprise solutions - secure ways for people and companies to communicate and share data wirelessly.
Waterloo, Ontario-based BlackBerry, once known for its phones, has pivoted to selling software such as those used in mobiles and by automakers, hoping to find a more stable source of revenue. Given (technology solutions) revenue stream is typically stable and growing, any shortfall would have been from enterprise software," Raymond James analyst Steven Li said.
BlackBerry (BB) delivered earnings and revenue surprises of 0.00% and 7.18%, respectively, for the quarter ended May 2019. Do the numbers hold clues to what lies ahead for the stock?
BlackBerry Ltd (NYSE: BB ) reported first-quarter earnings of 1 cent per share, which beat analyst estimates by a penny. This is a decrease from earnings of 3 cents per share from the same period last ...
New Collaborative Supply Agreement to Support Development of Next Generation Infotainment Systems, Digital Instrument Cluster, Digital Consolidated Cockpit, Telematics and More for Key Global OEMs. WATERLOO, ...
Canada's BlackBerry Ltd on Wednesday reported lower-than-expected sales for its biggest business, hurt by weak demand for its security software from firms and government agencies, sending its shares down as much as 10%. Waterloo, Ontario-based BlackBerry, once known for its phones, has pivoted to selling software such as those used in mobiles and by automakers, hoping to find a more stable source of revenue.
It was in June of 1812, with troops numbered at roughly a half million men and probably more under his command, that Napoleon Bonaparte entered Russian territory. Finally, in September, Napoleon occupied Moscow, at this point, a burned out skeleton of a city. It was then -- with the real enemy, the Russian Winter, fast approaching and with no way to supply or properly clothe his massive army -- that Napoleon was forced to attempt a retreat back to Western Europe.
BlackBerry Ltd. shares rose and then edged lower in premarket trade Wednesday, after the cybersecurity company posted a better-than-expected adjusted profit for its fiscal first quarter, but weaker-than-expected revenue. The Waterloo, Ontario-based company said it had a net loss of $35 million, or 9 cents a share, in the quarter to May 31, narrower than the loss of $60 million, or 11 cents a share, posted in the year-earlier period. Revenue rose to $247 million from $213 million. The FactSet consensus was for breakeven EPS and revenue of $265 million. The company's press release highlighted a series of non-GAAP numbers, or those that do not conform with Generally Accepted Accounting Principles. The Securities and Exchange Commission's rules stipulate that companies first present numbers prepared under GAAP rules. While they are allowed to offer non-GAAP numbers, they must give equal prominence to the GAAP numbers and offer a full reconciliation of the two. Shares have gained 16.6% in 2019, while the S&P 500 has gained 16.4%.
First quarter fiscal 2020 total non-GAAP Software and Services revenue growth of 35% year-over-year; total GAAP Software and Services revenue growth of 27% year-over-year First Quarter Fiscal 2020: - First ...
NEW YORK, NY / ACCESSWIRE / June 26, 2019 / BlackBerry Ltd. (NYSE: BB ) will be discussing their earnings results in their 2020 First Quarter Earnings to be held on June, 26 2019 at 8:00 AM Eastern Time. ...
BlackBerry's (BB) safety-certified and highly-secure software for next-generation vehicles is being sought by the world's leading automakers and chip manufacturers.