BlackBerry (BBRY) Misses Q1 EPS by 2c

BlackBerry (Nasdaq: BBRY) reported Q1 EPS of ($0.05), $0.02 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $658 million versus the consensus estimate of $683.65 million.

The revenue breakdown for the quarter was approximately 40% for hardware, 38% for services and 21% for software and technology licensing. BlackBerry had 2,600 enterprise customer wins in the quarter. Approximately 45% of the licenses associated with these deals are cross-platform. During the first quarter, the Company recognized hardware revenue on approximately 1.1 million BlackBerry smartphones with an ASP of $240.

"I am pleased with the strong performance of our software and technology business. This is key to BlackBerry's future growth," said Executive Chairman and CEO John Chen. "Our financials reflect increased investments to sales and customer support for our software business. In addition, we are taking steps to make the handset business profitable. We believe these actions are prudent and necessary to grow the business and we believe the remaining milestones in our strategic plan are achievable."

Outlook

The company continues to anticipate positive free cash flow. The company continues to target sustainable non-GAAP profitability some time in fiscal 2016.

For earnings history and earnings-related data on BlackBerry (BBRY) click here.

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