BlackBerry (BBRY) Posts Q4 Loss of 3c/Share; Revenue Lighter than Expected
(Updated - April 1, 2016 7:02 AM EDT)
BlackBerry (NASDAQ: BBRY) reported Q4 EPS of ($0.03), $0.07 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $464 million versus the consensus estimate of $563.18 million.
Pretax gross margin was 45.3 percent, or 48.7 percent post-tax.
BlackBerry had over 3,600 enterprise customer wins in the quarter. Approximately 70% of fourth quarter software revenue was recurring.
"Overall, BlackBerry's Q4 performance was solid as we made progress on the key elements of our strategy, which are to grow software faster than the mobility software market, achieve device profitability and generate positive free cash flow," said Executive Chairman and Chief Executive Officer John Chen.
"We have clearly gained traction and market share in enterprise software. We more than doubled our software and licensing revenue in Q4 and exceeded our target of $500 million for the full year. Looking to FY 2017, our strategy is on track and our growth engines are in place to continue to generate above market growth in software and achieve our profitability objectives," said Chen.
Outlook
The company expects to grow software and services at around 30 percent. The Company continues to anticipate positive free cash flow and adjusted EBITDA for the full 2017 fiscal year.
For earnings history and earnings-related data on BlackBerry (BBRY) click here.