BlackBerry (NYSE:BB) earnings for the tech company’s fiscal second quarter of 2021 have BB stock up on Thursday. That’s thanks to its adjusted earnings per share of 11 cents beating out Wall Street’s estimate of 2 cents. The company’s revenue of $259 million also comes in above analysts’ estimates of $237.95 million.
Here are some additional highlights from the most recent BlackBerry earnings report.
- Adjusted per-share earnings are a massive improvement over its flat EPS from the fiscal second quarter of 2020.
- Revenue for the quarter is sitting 6.2% higher than the $244 million reported during the same time last year.
- Operating loss of $22 million is a 48.8% improvement year-over-year from $43 million.
- The BlackBerry earnings report also includes a net loss of $23 million.
- That’s 47.7% better than the company’s net loss of $44 million reported in the same period of the year prior.
John Chen, executive chairman and CEO of BlackBerry, said this about the fiscal Q2 earnings.
“We are pleased to report sequential and year-over-year revenue growth this quarter, exceeding expectations, despite the ongoing challenges from COVID-19. Continued demand for our secure, ‘Work from Anywhere’, solutions remains a major driver for our BlackBerry Spark business, which performed well this quarter.”
BlackBerry still isn’t providing a detailed outlook for fiscal 2021 due to the novel coronavirus. However, it does expect revenue of roughly $950 million for the year. Wall Street is estimating revenue of $954.9 million for fiscal 2021.
BB stock was up 1.5% as of Thursday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.