BlackBerry (BBRY) Posts Narrower-than-Expected Q3 Loss of 3c/Share

BlackBerry (NASDAQ: BBRY) reported Q3 EPS of ($0.03), $0.11 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $557 million versus the consensus estimate of $489.06 million.

*** Note: On the company's conference call, BlackBerry said it shipped about 700,000 handsets in the quarter and the average selling price increased to around $315 per unit.

"I am pleased with our continued progress on BlackBerry's strategic priorities, leading to 14 percent sequential growth in total revenue for Q3. We delivered accelerating growth in enterprise software and higher revenue across all of our areas of focus," said Executive Chairman and Chief Executive Officer John Chen. "Our new PRIV device has been well received since its launch in November, and we are expanding distribution to additional carriers around the world in the next several quarters.

"BlackBerry has a solid financial foundation, and we are executing well. To sustain our current direction, we are stepping up investments to drive continued software growth and the additional PRIV launches. I anticipate this will result in sequential revenue growth in our software, hardware and messaging businesses in Q4."

Outlook

The company continues to anticipate positive free cash flow and adjusted EBITDA.

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

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