Earnings Coverage - BlackBerry

LONDON, October 1, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings coverage on BlackBerry Ltd (NASDAQ: BBRY). The company reported its financial results for Q2 FY15 (period ended August 30, 2014) on September 26, 2014. Click on www.investor-edge.com/FreeReports to read our free earnings coverage on BlackBerry Ltd. During Q2 FY15, BlackBerry Ltd's GAAP loss per diluted share narrowed by $1.45 from the prior year, while the company's revenue fell by $657 million from Q2 FY14. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview  

BlackBerry Ltd's revenue for Q2 FY15 stood at $916 million, compared with $1,573 million in the previous year quarter. The reported quarter revenue fell short of Bloomberg analysts' forecasts of $950 million. During Q2 FY15, BlackBerry Ltd. realised revenues of approximately, 46% each, from hardware and services and 8% from software and other revenue. Further, during the reported quarter, the company realised hardware revenue on approximately 2.1 million BlackBerry smartphones. The Company sold approximately 2.4 million BlackBerry smartphones to its end customers in Q2 FY15, which included shipments made and recognized prior to the second quarter and which reduced the Company's inventory in channel. The free research on BBRY can be downloaded as in PDF format at:  

www.Investor-Edge.com/BBRYFreeReport

The company's GAAP gross margin for Q2 FY15 stood at $425 million or 46.4% of revenue. Excluding the impact of the restructuring charges, the company reported non-GAAP gross margin of $435 million, or 47.5% of revenue. During Q2 FY15, BlackBerry Ltd narrowed its operating loss to $198 million from $1,432 million in Q2 FY14, primarily on account of reduction in research and development expenses, SG&A expenses and amortization, which fell by $174 million, $332 million, and $96 million, respectively from the previous year. Further, BlackBerry Ltd's GAAP net loss during the reported quarter narrowed to $207 million or $0.39 loss per diluted share from a net loss of $965 million or $1.84 loss per diluted share in Q2 FY14. Analysts from Bloomberg were expecting the company to report net loss of $161 million or $0.23 per diluted share during the reported quarter. On non-GAAP basis, the company's net loss stood at $11 million or $0.02 per share.

As of August 30, 2014, the company's total cash, cash equivalents, short-term and long-term investments stood at $3.1 billion. The company used $36 million in Q2 FY15, excluding net receipts of $47 million related to non-strategic operations during the reported quarter. Sign up and read the free analyst's notes on BBRY at:

www.Investor-Edge.com/BBRY-01102014

John Chen, Executive Chairman and CEO of BlackBerry Ltd, stated in the press release that the company delivered a solid quarter against its key operational metrics, and the company's management is confident that it will achieve breakeven cash flow by the end of FY15. Mr. Chen added that the BlackBerry Ltd's workforce restructuring is now complete, and the company is focusing on revenue growth with judicious investments to further its leadership position in enterprise mobility and security, driving the company towards non-GAAP profitability during FY16.

Stock Performance  

On the day of earnings release, September 26, 2014, shares in BlackBerry Ltd rose 4.69%, ending the session at $10.26. However, the stock has moved lower since then, and on the last close, Tuesday, September 30, 2014; it finished at $9.94, which is 2.83% below its previous day's closing price. The stock vacillated between $9.87 and $10.31 during the last session. A total of 15.90 million shares were traded, which was above its three months average volume of 14.75 million shares. Over the previous three trading sessions and from the beginning of 2014, the company's shares have gained 1.43% and 33.60%, respectively, although, the stock has declined 2.36% in the last one month. Shares in BlackBerry Ltd are trading above their 200-day moving average. Further, the stock's 50-day moving average of $10.08 is above its 200-day moving average of $9.01. The stock has a Relative Strength Index (RSI) of 47.07. Visit Investor-Edge and access the latest research on BBRY at:

www.Investor-Edge.com/BBRYEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month, BlackBerry Ltd has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on BBRY is available at:

www.Investor-Edge.com/BBRYInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

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EDITOR'S NOTES:

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1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

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