LONDON, January 14, 2015 /PRNewswire/ --
Investor-Edge.com has issued free earnings highlights on BlackBerry Ltd (NASDAQ: BBRY). On December 19, 2014, the company reported its financial results for Q3 FY15 (period ended November 29, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on BlackBerry Ltd (BlackBerry). During Q3 FY15, the company's revenue was $793 million, and it reported normalized positive cash flow of $43 million as compared to cash use of $36 million in Q3 FY14. Executive Chairman and CEO of BlackBerry, John Chen, stated that the company achieved a key milestone in its eight quarter plan with positive cash flow. Our free coverage report can be accessed at:
During Q3 FY15, BlackBerry's revenue declined by $400 million from $1,193 million in Q3 FY14. The reported quarter revenue fell short of Bloomberg analysts' forecasts of $931 million. During Q3 FY15, BlackBerry's revenue breakdown was approximately 46% for hardware, 46% for services, and 8% for software and other revenue. Further, during the reported quarter, the company realized hardware revenue on approximately 2 million BlackBerry smartphones. The company sold approximately 1.9 million BlackBerry smartphones to its end customers in Q3 FY15, which included shipments made and recognized prior to the second quarter and which reduced the company's inventory in channel. Mr. Chen informed that BlackBerry attained another important milestone in the release of its new enterprise software products and devices. He added that the company will now focus on expanding distribution and driving revenue growth. The free research on BBRY can be downloaded as in PDF format at:
During Q3 FY15, BlackBerry's non-GAAP and GAAP gross margin of 52% was driven by a second consecutive quarter of positive hardware gross margin. The company's Q3 FY15 non-GAAP operating profit improved to $16 million from $2 million in Q2 FY15. Blackberry reported non-GAAP earnings of $0.01 per share in Q3 FY15 compared to a non-GAAP loss of $0.02 per share in Q2 FY15. Meanwhile, BlackBerry's GAAP net loss during the reported quarter fell to $148 million, or $0.28 loss per diluted share, from a GAAP net loss of $207 million, or $0.39 loss per diluted share, in Q2 FY15. Analysts from Bloomberg were expecting the company to report GAAP net loss of $137 million, or $0.21 loss per diluted share, during the reported quarter.
As of November 29, 2014, Blackberry's total cash, cash equivalents, short-term and long-term investments stood at $3.1 billion. The cash balance during Q3 FY15 increased $43 million, excluding net outlays of $31 million related to acquisitions during the quarter. The company completed the acquisition of Movirtu, a provider of virtual SIM solutions, during Q3 FY15, and Secusmart, a leader in high-security voice and text encryption, after the quarter ended.
Blackberry continues to anticipate maintaining its strong cash position, while increasingly looking for opportunities to prudently invest in growth and expects breakeven or better cash flow from operations. The company is expanding its distribution capability, and expects traction from these efforts to manifest some time in FY16. Blackberry continues to target sustainable non-GAAP profitability some time in FY16. Sign up and read the free analyst's notes on BBRY at:
On the day of earnings release, December 19, 2014, BlackBerry's stock edged 0.79% lower to end the session at $9.99. The stock has moved both ways since then with losses outweighing gains so far. On the last close, Tuesday, January 13, 2015, the stock finished at $9.71, down 4.05%, after vacillating between $9.68 and $10.23. A total of 15.29 million shares were traded, which was above its three months average volume of 12.17 million shares. Over the last one month, BlackBerry's shares have fallen by 1.32%. However, the stock has gained 7.17% in the previous three months and 15.60% in past one year. Shares in BlackBerry closed above their 200-day moving average of $9.48. Furthermore, the stock has a Relative Strength Index (RSI) of 41.72. Visit Investor-Edge and access the latest research on BBRY at:
Sneak Peek to Corporate Insider Trading
In the last one month, BlackBerry has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on BBRY is available at:
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