The operating profit amounted to USD 22 million, up from last year’s loss of 355 million but down from the 536 million recorded in its fiscal first quarter. The net profit advanced to USD 19 million from a loss of 372 million, though again lower than last quarter’s profit of 672 million. The diluted loss per share in Q2 went to 0.07, from a loss of 0.71 year-on-year and a gain of 1.23 quarter-on-quarter.
Revenues fell to USD 238 million from 334 million the year earlier, while adjusted revenues amounted to USD 249 from 352 year-over-year. Revenues at Software and Services increased 34 percent from the year before. On an adjusted basis, they were up 26 percent. BlackBerry said it had about 3,300 enterprise customers orders in the quarter.
CEO John Chen said the company was on track to achieve profitability for the full year. Specifically, the company is guiding for full year adjusted revenues at USD 920-950 million, a positive adjusted EPS and positive free cash flow, before taking into account the impact of the Qualcomm arbitration award.
The total cash balance at the end of Q2 was at USD 2.5 billion, with breakeven free cash flow. Chen noted the company also reported its highest adjusted operating margin in over five years, reflecting its complete transformation to a software company.
