BlackBerry lifts profit amid flat revenues in Q3

News Wireless Global 20 DEC 2018
BlackBerry lifts profit amid flat revenues in Q3
BlackBerry said revenues for its fiscal third quarter to end November were flat year-on-year, with declines at Handheld devices and SAF (system access fees) offset by gains at Blackberry Technology Solutions and Licensing, IT and other, and a virtually flat Enterprises software and services. The net profit advanced to USD 59 million from a loss the year before of 275 million, with basic earnings per share lifting to USD 0.11 from a loss of 0.52 per share, and the diluted loss per share narrowing to 0.01 from a loss of 0.52 per share. The operating profit climbed to USD 58 million from a loss of 258 million. Profit gains were helped by lower expenses, lower cost of sales and a higher gross margin. 

Revenues went to USD 226 million, with Licensing, IP and other rising to USD 68 million from 50 million and BlackBerry Technology Solutions increasing to USD 53 million from 43 million. At Enterprise software and services, revenue dipped slightly lower to USD 96 million from 97 million, while at Handheld devices, it went to USD 0 from 9 million, and at SAF, it fell to USD 9 million from 27 million. The total cash balance at the end of the quarter sequentially stayed at USD 2.4 billion while the free cash flow amounted to a positive USD 39 million, before counting the impact of any restructuring and legal proceedings. 

For its fiscal full year 2019, the company reiterated its outlook for 8-10 percent growth at software and services revenue, plus double-digit growth in company software and services billings. BlackBerry added that it expects free cash flow is expected to be positive.

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