BlackBerry (BBRY) Posts Q2 adj-Loss of 2c/Share
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(Updated - September 26, 2014 7:02 AM EDT)
BlackBerry (Nasdaq: BBRY) reported Q2 EPS of ($0.02), $0.14 better than the analyst estimate of ($0.16). Revs were $916 million, versus the consensus at $949.6 million.
"We delivered a solid quarter against our key operational metrics, and we are confident that we will achieve breakeven cash flow by the end of FY15," said John Chen, Executive Chairman and CEO, BlackBerry. "Our workforce restructuring is now complete, and we are focusing on revenue growth with judicious investments to further our leadership position in enterprise mobility and security, driving us towards non-GAAP profitability during FY16."
During the second quarter, the Company recognized hardware revenue on approximately 2.1 million BlackBerry smartphones. During the second quarter, approximately 2.4 million BlackBerry smartphones were sold through to end customers, which included shipments made and recognized prior to the second quarter and which reduced the Company's inventory in channel.
Cash and investments balance of $3.1 billion at the end of the fiscal quarter, up $11 million from the prior quarter.
Adjusted gross margin came in at 47.5 percent, from 48 percent the prior quarter.
GUIDANCE:
The Company continues to anticipate maintaining its strong cash position, while increasingly looking for opportunities to prudently invest in growth. The Company continues to target break-even cash flow results by the end of fiscal 2015.
For earnings history and earnings-related data on BlackBerry (BBRY) click here.
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