The deterioration was mainly caused by higher operating loss.However, non-GAAP net income in fiscal first-quarter came in at $12 million or 2 cents per share compared with $5 million or 1 cent per share in the year-ago quarter. We take a look at earnings estimates for some clues. In response to its releasing fiscal 2020 second-quarter earnings, shares of BlackBerry (NYSE:BB), a provider of enterprise software and services, had dropped 18% as of 10:22 a.m. EST on Tuesday. The vast majority of revenue now comes from software and services sales, which are growing, high margin, and recurring in nature. A month has gone by since the last earnings report for BlackBerry . Recurring revenue now makes up more than 90% of total sales. The expansion can be explained partly by the pivot toward software-related businesses, which have higher margins and are seeing stronger growth.
I understand I can unsubscribe from these updates at any time. Today, I want to take a snapshot of the company so far in 2020. Given that BlackBerry is coming off a decent earnings report, the recent losses aren’t a result of any self-inflicted damage.
BlackBerry’s many growth opportunities are one of the key reasons it’s a safe long-term buy. 1. The consensus estimate has shifted 44.44% due to these changes. We break down the change in BB’s stock into 3 factors: BB’s Stock Price = (Revenue / No. (AP Photo/Richard Drew), Impact 50: Investors Seeking Profit — And Pushing For Change, BlackBerry: Why Has The Stock Underperformed Despite Software Pivot. All Rights Reserved, This is a BETA experience. Market data powered by FactSet and Web Financial Group. Shares have lost about 11.7% in that time frame. On the enterprise front, the company saw healthy demand for BlackBerry’s security, business continuity and productivity solutions in a remote working environment.Bottom LineOn a GAAP basis, net loss in the quarter was $636 million or loss of $1.14 per share compared with a net loss of $35 million or loss of 9 cents per share in the prior-year quarter. Shares have lost about 2.3% in that time frame, underperforming the S&P 500. The cybersecurity software and services company is capitalizing on the secular trends of securing and connecting endpoints.In the quarter, BlackBerry QNX was impacted by macro headwinds in the auto and other embedded sectors. We use cookies to understand how you use our site and to improve your experience. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.44% per year. This was caused by a non-cash, one-time goodwill impairment charge of $594 million. At this time, BlackBerry has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
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ZacksTrade and Zacks.com are separate companies. Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc.; Dow Jones & Company; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. began trading on the floor of the New York Stock Exchange, transferring from Nasdaq, Monday, Oct. 16, 2017. BlackBerry released its Q2 2020 earnings last Tuesday and the stock fell more than 15%. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
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