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Wednesday, December 20, 2017

BlackBerry (BB) reported earnings on Wed 20 Dec 2017 (b/o)

  • Note: BlackBerry (BBRYchanged its ticker symbol to BB (the same symbol it uses in Toronto), and moved its listing to the NYSE. The company started trading on the new exchange Oct. 16, 2017.  Its listing on the Toronto exchange did not change.
** charts before earnings **


** charts after earnings **


BlackBerry beats by $0.03, beats on revs; reaffirms FY18 EPS in-line, sees FY18 revs coming in at mid-to-high end of guidance range 
  • Reports Q3 (Nov) earnings of $0.03 per share, excluding non-recurring items, $0.03 better thanthe Capital IQ Consensus of ($0.00); Non-GAAP revenues fell 21.9% year/year to $235 mln vs the $216.7 mln Capital IQ Consensus.
  • Approximately 75% of third quarter software and services revenue was recurring.
  • BlackBerry had approximately 3,000 enterprise customer orders in the quarter. Adjusted EBITDA of $35 million; positive for the fifteenth consecutive quarter. Record gross margin of 77% (non-GAAP) and 74% breaking the record set last quarter.
  • Co reaffirms guidancefor FY18, sees EPS of positive EPS, excluding non-recurring items, vs. $0.07 Capital IQ Consensus Estimate; sees FY18 revs of $920-950 mln vs. $935.78 mln Capital IQ Consensus Estimate.
    • FY18 Guidance:"Given the strength of our first three quarters and our outlook for the full year fiscal 2018, we expect to come in the mid to higher end of that range -- Total non-GAAP software and services revenue growth in the range of 10 percent to 15 percent -- Positive non-GAAP EPS for the full year-- Positive free cash flow for the full year, before taking into account the net impact of arbitration awards and damages, as well as costs related to restructuring and transition from the hardware business"

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