BlackBerry stock jumps after 2Q profit nearly doubles, beating Street estimates
Shares of Canadian business software maker BlackBerry Ltd (NYSE:BB) climbed in premarket trade Friday after it’s second-quarter profit more than doubled, handily beating Wall Street estimates.
For the second quarter ended August 31, the Waterloo, Ontario-based company posted earnings of $43 million, or $0.04 per share on revenue of $210.0 million. The consensus earnings estimate was $0.01 per share.
Investors sent BlackBerry stock up 3.5% to $10.55 as profit nearly doubled from $19 million, a year earlier.
The cybersecurity software and services company posted revenue of $210 million in the period. Its adjusted revenue was $214 million.
“In the quarter, we exceeded our financial expectations driven by sequential growth in both our BlackBerry Technology Solutions and Enterprise Software and Services businesses” said BlackBerry CEO John Chen.
“I am very encouraged by BlackBerry’s leadership opportunities in the fast-growing Enterprise of Things, and by our strategy to capitalize on these significant future opportunities with BlackBerry Spark, our platform to securely communicate and collaborate between smart endpoints,” he added.
The reiterated its fiscal 2019 outlook of “positive” adjusted EPS and software and services revenue growth of 8% to 10%.
Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/205981/blackberry-stock-jumps-after-2q-profit-nearly-doubles-beating-street-estimates-205981.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).