BlackBerry (NYSE:BB) stock was down on Friday following the release of its earnings report for its fiscal first quarter of 2019.
During its fiscal first quarter of 2019, BlackBerry reported earnings per share of 3 cents. This is up from its earnings per share of 2 cents from the same period of the year prior. It also beat out Wall Street’s flat earnings per share estimate for the quarter.
Net loss reported by BlackBerry for its fiscal first quarter of 2019 came in at $60 million. This is worse off than the company’s net income of $671 million that was reported in its fiscal first quarter of 2018.
BlackBerry also reported an operating loss of $65 million in its fiscal first quarter of 2019. The technology company’s operating income from the same time last year was $536 million.
BlackBerry’s earnings report for its fiscal first quarter of 2019 also includes revenue of $213 million. This is a drop from the company’s revenue of $235 million that was reported in its fiscal first quarter of 2018. Despite this drop, BB was still able to beat out analysts’ revenue estimate of $209.03 million for the period.
BlackBerry only provides a vague outlook for fiscal 2019 in its most recent earnings report. This includes simply saying that it expects earnings per share for the year to be positive. Wall Street is looking for earnings per share of 6 cents for BB’s fiscal 2019 year.
BB stock was down 7% as of Friday afternoon and is down 2% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
