BlackBerry (NYSE:BB) earnings for the tech company’s third quarter of fiscal 2020 have BB stock taking off on Friday. That’s thanks to its adjusted per-share earnings of 3 cents. This beats out Wall Street’s estimate of 2 cents for the quarter. Revenue of $267 million is below analysts’ estimates of $275.7 million, but isn’t keeping BB stock down.
Here are some additional highlights from the Q3 BlackBerry earnings report.
- Adjusted EPS is down 40% from the 5 cents reported during the third quarter of fiscal 2019.
- Revenue is 18.14% higher than the $226 million from the same time last year.
- An operating loss of $29 million is worse off than operating income of $58 million.
- The BlackBerry earnings report also has net loss coming in at $32 million.
- This is a decrease compared to a net income of $59 million in the same period of the year prior.
John Chen, the Executive Chairman and CEO of BlackBerry, says this about the BB stock earnings report.
“BlackBerry achieved sequential growth in revenue across all of our software businesses while generating healthy non-GAAP profitability and free cash flow as we continue to invest in our future. I am pleased with our progress. Our pipeline is growing as we deliver against our product roadmap and execute on our go-to-market expansion.”
The BlackBerry earnings report doesn’t go into detail about its fiscal 2020 outlook. However, we know that Wall Street is expecting 5 cents per share on revenue of $1.1 billion for the fiscal year.
BB stock was up 11.22% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.