BlackBerry Earnings: BB Stock Soars on Impressive Q4 Results

BB beat EPS and revenue estimates for Q4

BlackBerry earnings for its fiscal fourth quarter of 2019 have BB stock on its way up Friday.

BlackBerry Earnings: BB Stock Soars on Impressive Q4 Results
Source: Shutterstock

BlackBerry (NYSE:BB) reported earnings per share of 11 cents for its fiscal fourth quarter of the year. This is an increase over the company’s earnings per share of 5 cents from the same time last year. It was also a boon to BB stock by beating out Wall Street’s earnings per share estimate of 6 cents for the quarter.

Net income reported in the BlackBerry earnings release for its fiscal fourth quarter of 2019 comes in at $51 million. This is a major improvement over the company’s net loss of $10 million reported in its fiscal fourth quarter of 2018.

The BlackBerry earnings report for its fiscal fourth quarter of the year also includes operating income of $28 million. The tech company reported an operating loss of $17 million during the same period of the year prior.

BlackBerry earnings for its fiscal fourth quarter of 2019 has it bringing in revenue of $255 million. This is up from the company’s revenue of $233 million reported in its fiscal fourth quarter of the previous year. It was also a blessing to BB stock by coming in above analysts’ revenue estimate of $241.66 million for the period.

“We delivered on all of our fiscal 2019 financial commitments and created a solid foundation for continued profitable revenue growth in fiscal 2020,” John Chen, Executive Chairman and CEO of Blackberry, said in a statement.

BB stock was up 14% as of Friday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/03/blackberry-earnings-good-news-for-bb-stock/.

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