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BlackBerry Earnings: BB Stock Up 5% After Beating EPS Estimates for Q4

BlackBerry (NYSE:BB) earnings for fiscal fourth quarter of 2020 have BB stock heading higher after-hours Tuesday. That comes after reporting adjusted earnings per share (EPS) of 9 cents. This is better than Wall Street’s estimate of 4 cents per share. However, the tech company’s revenue of $282 million is below analysts’ estimates of $296.3 million.

BlackBerry Earnings: BB Stock Up 4% After Beating EPS Estimates for Q4
Source: Michael Vi / Shutterstock.com

Here’s what else is worth noting from the most recent BlackBerry earnings report.

  • Adjusted per-share earnings are down 18.18% from 11 cents in the fiscal fourth quarter of 2019.
  • Revenue for the quarter comes in 10.59% higher than the $255 million from the same time last year.
  • Operating loss of $41 million is a switch year-over-year from its operating income of $28 million.
  • The BlackBerry earnings report also includes a net loss of $41 million.
  • That’s worse off than the company’s net income of $51 million from the same period of the year prior.

John Chen, Executive Chairman and CEO of BlackBerry, said the following about the BB stock earnings report.

“In fiscal 2020, we delivered $1.1 billion in non-GAAP revenue and $0.13 of non-GAAP earnings per share, released over 30 new products and made strong progress on developing BlackBerry’s zero-trust architecture as part of the Spark platform. This is essential for the secure IoT market.”

The BlackBerry earnings report notes that a guidance update will come in its conference call for the current quarter. This call is set to take place at 5:00 p.m. Eastern Time today. Anyone can listen in to the call by dialing in or via a webcast on the company’s website.

BB stock was up 5.08% after markets closed on Tuesday. The stock also closed out the day up 5.63%.

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/2020/03/blackberry-earnings-bump-bb-stock-up/.

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