BlackBerry third-quarter revenue falls almost 25%, but beats expectations

Earnings


Canadian software maker BlackBerry reported third-quarter results on Wednesday that beat analysts’ forecasts, helped by an increase in business software sales and licensing revenue, sending its stock up more than 7 percent in premarket trading.

The company reported adjusted earnings of 3 cents a share in the quarter ended Nov. 30, better than the average analyst forecast for it to break even, according to Thomson Reuters I/B/E/S. Quarterly revenue fell 25 percent from a year earlier to $226 million, beating the average forecast of $215.4 million.

“It’s pretty impressive, beating on both the top and bottom lines,” said Ali Mogharabi, an analyst at Morningstar. “The growth specifically in enterprise software is good to see.”

The Waterloo, Ontario-based company said enterprise software and services sales jumped 11.5 percent from a year ago to $97 million as it received some 3,000 orders in the quarter from customers including NATO, the U.S. government and Deutsche Bank.

Revenue from intellectual property and licensing surged 67 percent to $50 million. A jump in that category had provided an unexpected boost to company earnings in the second quarter.

Sales in its BlackBerry Technology Solution group — which includes the QNX software used in auto infotainment units and self-driving vehicle systems — were flat at $43 million.

The company’s U.S.-listed shares were up 7.5 percent at $11.69 in premarket trading.



Source link

Products You May Like

Articles You May Like

How Warren Buffett convinced Richard Thaler to stay away from bitcoin
Jack Dorsey loses 200,000 followers on Twitter after fake user purge
The 10 best states to retire in
US Lumber producers see huge opportunity, rush to expand  
Bill Gates’ hero Anna Rosling reveals key skill for future success

Leave a Reply

Your email address will not be published. Required fields are marked *