BlackBerry Beat Analyst Estimates Again in Fiscal 2Q18
Non-GAAP revenue of $249 million
The Canada-based (EWC) technology (QQQ) name BlackBerry (BBRY) announced its fiscal 2Q18 results on September 28, 2017. It reported non-GAAP (generally accepted accounting principles) revenue of $249 million and GAAP revenue of $238 million. Revenue fell 29% YoY (year-over-year) from $334 million in fiscal 2Q17.
Revenue from BlackBerry’s Software & Services business segment rose to an all-time high of $196 million. Its gross margin in fiscal 2Q18 was 74% with an operating margin of 12%. Non-GAAP earnings per share (or EPS) were $0.05 in the quarter ended August 31, 2017.
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Analysts expected revenue of $221.2 million in fiscal 2Q18
Analysts expected BlackBerry to post revenue of $221.2 million with EPS of $0.00 in fiscal 2Q18. BlackBerry has now beaten analyst EPS estimates in the last five consecutive quarters. During the fiscal 2Q18 earnings call, BlackBerry CEO John Chen stated, “I am pleased with our strong execution in Q2. We achieved historical highs in total software and services revenue and gross margin, as well as the highest non-GAAP operating margin in over five years, reflecting our complete transformation to a software company.”
As BlackBerry beat analyst revenue and earnings estimates in fiscal 2Q18, the stock rose 21% in the last two trading days to close at $11.18.