BlackBerry (NYSE:BB) earnings for the company’s fiscal second quarter of 2020 has BB stock falling hard on Tuesday. Revenue of $244.00 million reported during the quarter missed Wall Street’s estimate of $266.18 million. Earnings per share for the period was flat, which is slightly better than the per-share loss of one penny that analysts’ were expecting.
Let’s look at some other highlights from the most recent BlackBerry earnings report.
- Revenue for the quarter was up 16% YoY.
- Earnings per share was down from the 2 cents reported in BB’s fiscal second quarter of 2019.
- Operating loss reported in during the quarter was -$43 million.
- That’s 19% wider than the operating loss of -$36 million from the same time last year.
- Net loss in the most recent Blackberry earnings report was -$44 million.
- This is a 25% greater net loss than the -$35 million reported in same period of the year prior.
- Total free cash flow generated by the company during the quarter was $14 million.
- BB also mentions that current CFO Steve Capelli is being given the new role of Chief Revenue Officer.
- Taking his place as the next CFO will be current Deputy Chief Financial Officer Steve Rai.
- This change will go into effect on Oct. 1, 2019.
BlackBerry notes that it is expecting non-GAAP revenue growth for fiscal 2020 to come in between 23% and 25%. The company says that this is due to a double-digit percentage increase in billings year-over-year and non-GAAP profitability for the fiscal year.
BB stock was down 20% as of Tuesday afternoon, which erases any gains it has made throughout the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.