BlackBerry Limited (BBRY - Analyst Report) designs, manufactures, and sells wireless solutions to the mobile communications market. Through the development and integration of hardware, software, and services, BlackBerry provides solutions for seamless access to time-sensitive information, including e-mail, messaging, as well as Internet and Intranet-based applications.
Lately, BlackBerry has been exploring several business options which will likely help the company offset escalating losses in its smartphone business. BlackBerry’s BES12 platform is increasingly gaining traction.
Currently, BlackBerry has a Zacks Rank #3 (Hold), but that could definitely change following BlackBerry’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: BlackBerry Limited reported loss of $0.05/share which is wider than the Zacks Consensus Estimate of a loss of $0.04/share.
Revenue: BlackBerry Limited reported revenues of $658 million. This misses our consensus estimate by 700 million.
Key Stats to Note: BlackBerry reported positive cash flow of $123 million in first quarter 2016. Software licensing revenue improved 150% year over year.
Stock Price: BlackBerry shares were up almost 8.70% following the release. Clearly, the initial reaction to the release is positive.
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