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