BB Stock: Blackberry beats on the top and bottom lines, shares spike 7%

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Canada’s BlackBerry Ltd reported third-quarter results on Wednesday that beat analysts’ forecasts, helped by an increase in business software sales and licensing revenue, sending its stock up more than 7 percent in premarket trading.

The company reported adjusted earnings of 3 cents a share in the quarter ended Nov. 30, better than the average analyst forecast for it to break even, according to Thomson Reuters I/B/E/S. Quarterly revenue fell 25 percent from a year earlier to $226 million, beating the average forecast of $215.4 million.

“It’s pretty impressive, beating on both the top and bottom lines,” said Ali Mogharabi, an analyst at Morningstar. “The growth specifically in enterprise software is good to see.”

The Waterloo, Ontario-based company said sales in its enterprise software and services division rose 11.5 percent from a year ago to $97 million.

Its U.S.-listed shares rose 7.5 percent to $11.69 in premarket trading. (Editing by Jim Finkle and Bernadette Baum)

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