BlackBerry profit: BB stock up 5% after beating EPS estimates for Q4

<p>BlackBerry (NYSE: BB) profit for fiscal fourth quarter 2020 has the BB share higher after the afternoon on Tuesday. It comes after reporting adjusted earnings per share (EPS) of 9 cents. This is better than the Wall Street estimate of 4 cents per share. However, the technology company’s revenue of $ 282 million is lower than analysts’ estimates of $ 296.3 million.

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Here’s what’s worth noting from the latest BlackBerry revenue report.

Adjusted earnings per share decreased by 18.18% from 11 cents in the fourth quarter of 2019. Revenue for the quarter is 10.59% higher than $ 255 million from the same period last year. Operating profit of $ 41 million is a change from the previous year from its operating income of $ 28 million. The BlackBerry results report also includes a net loss of $ 41 million. This is worse than the company’s net profit of $ 51 million from the same period last year.

John Chen, Chairman and CEO of BlackBerry, said the following about the BB results report.

“During the 2020 fiscal year, we delivered $ 1.1 billion in non-GAAP revenue and $ 0.13 in non-GAAP earnings per share, released over 30 new products and made strong progress in developing BlackBerry’s zero-confidence architecture as part of the Spark platform. This is important for the secure IoT market. ”

The BlackBerry revenue report states that a guidance update will be included in its conference call for the current quarter. This call will take place at 17:00 Eastern Time today. Anyone can listen to the call by calling or via a webcast on the company’s website.

The BB share increased by 5.08% after the markets closed on Tuesday. The stock also closed the day up 5.63%.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/blackberry-earnings-bump-bb-stock-up/.

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