Revenue of $301.0 million
On December 20, 2016, BlackBerry (BBRY) announced its fiscal 3Q17 results. It reported non-GAAP (generally accepted accounting principles) revenue of $301.0 million and GAAP revenue of $289.0 million. Its GAAP revenue fell 47.0% YoY (year-over-year), from $548.0 million in fiscal 3Q16. The company achieved non-GAAP EPS (earnings per share) of $0.02 and a GAAP EPS loss of $0.22 in the quarter.
The Software and Services segment accounted for 56.0% of BlackBerry’s total revenue, followed by Service Access Fees (or SAF) at 23.0% and Hardware at 21.0%. In its fiscal 3Q17 earnings call on December 20, BlackBerry said the company had more than 3,000 enterprise customer wins in the quarter. It also said that 80.0% of the revenue in its Software and Services segment was recurring in nature.
John Chen, BlackBerry’s CEO (chief executive officer), said, “We firmly believe that the move to a software business model will be positive for revenue growth going forward, sustainable profitability and overall shareholder value.”
What did analysts expect in fiscal 3Q17?
Analysts estimated that BlackBerry would post revenues of ~$331.9 million for fiscal 3Q17, which ended in November 2016. Their low estimate was ~$311.5 million, and their high estimate was ~$347.0 million.
The company’s EPS (earnings per share) was estimated at -$0.01, with a high estimate of $0.04 and a low estimate of -$0.03.
While BlackBerry beat the earnings estimate, the company’s revenue fell short of analyst expectations.