BlackBerry (BBRY) Posts Surprise Q3 Profit; Reports 100% Sequential Growth in BES10 Licenses
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BlackBerry (NASDAQ: BBRY) reported Q3 adjusted EPS of $0.01, $0.06 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $793 million versus the consensus estimate of $959.54 million.
During the third quarter, the Company recognized hardware revenue on approximately 2 million BlackBerry smartphones. During the third quarter, approximately 1.9 million BlackBerry smartphones were sold through to end customers, which included shipments made and recognized prior to the third quarter and which reduced the Company's inventory in channel.
Ending the EZ Pass Program after the quarter with a total of 6.8 million licenses issued for BES10, a 100% increase from last quarter, with over 30% of total licenses traded in from competitors' Mobile Device Management platforms.
Outlook
The Company continues to anticipate maintaining its strong cash position, while increasingly looking for opportunities to prudently invest in growth. The Company continues to anticipate break-even or better cash flow from operations.
The Company is expanding its distribution capability, and expects traction from these efforts to manifest some time in fiscal 2016. 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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