BlackBerry (BBRY) Tops Q3 EPS by 3c; Raises Outlook

BlackBerry (NASDAQ: BBRY) reported Q3 EPS of $0.02, $0.03 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $301 million versus the consensus estimate of $331.92 million.

BlackBerry raised its outlook on profitability for FY17. They now expect to achieve non-GAAP EPS profitability for the full year, up from a prior range of breakeven to a five cent loss.

"BlackBerry is now a software company and the market leader in mobile security," said John Chen, Executive Chairman and CEO, BlackBerry. "We achieved significant milestones in Q3, delivering the highest gross margin in the company's history for the second consecutive quarter and continuing to transform our infrastructure and operations to support an enterprise software business. These accomplishments drove operating profitability in all business segments and overall positive non-GAAP EPS."

"As the number of mobile-connected devices continues to proliferate, we expect growing demand in our areas of strength, including security and embedded software," continued Chen. "The recent agreements with Ford and TCL are positive proof points on our value proposition in these emerging growth areas. We have a pipeline of opportunities to continue our momentum."

"We remain on track to deliver 30 percent growth in company total software and services revenues for the full fiscal year. We are raising our outlook on profitability for FY17. We now expect to achieve non-GAAP EPS profitability for the full year, up from a prior range of breakeven to a five cent loss. This is the third consecutive quarter we have increased our EPS outlook, reflecting the traction we are achieving in our shift to a software business model. We also anticipate breakeven non-GAAP EPS and approximately breakeven free cash flow in Q4."

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

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