BlackBerry: posts quarterly profit, but revenue falls.
(CercleFinance.com) - BlackBerry posted a profit for the first quarter of its fiscal year 2018, but said its revenue decreased, sending the stock down over 5 percent in pre-market trading.
The Waterloo, Ontario-based company reported a GAAP net profit of 671 million, or 1.23 dollar a share, in the three months to end-May. This compares with a loss of 670 million dollars the previous year, or 1.28 dollar a share.
The Canadian group explains that the performance was helped by the 940 million dollar award from the positive outcome of the Qualcomm arbitration.
BlackBerry has said that it has made great progress strengthening its strategic position in growth markets, such as cybersecurity and the enterprise of things.
Revenue, however, slid to 235 million dollars from 400 million dollars.
The group's outlook for fiscal 2018 remains unchanged. BlackBerry anticipates growth at or above the overall market in software and services and also expects to be profitable on a non-GAAP basis and to generate positive free cash flow for the full year.
Finally, BlackBerry today announced that it has received acceptance from the Toronto Stock Exchange to purchase up to 31,000,000 common shares before cancellation, representing approximately 6.4% of outstanding free float.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Waterloo, Ontario-based company reported a GAAP net profit of 671 million, or 1.23 dollar a share, in the three months to end-May. This compares with a loss of 670 million dollars the previous year, or 1.28 dollar a share.
The Canadian group explains that the performance was helped by the 940 million dollar award from the positive outcome of the Qualcomm arbitration.
BlackBerry has said that it has made great progress strengthening its strategic position in growth markets, such as cybersecurity and the enterprise of things.
Revenue, however, slid to 235 million dollars from 400 million dollars.
The group's outlook for fiscal 2018 remains unchanged. BlackBerry anticipates growth at or above the overall market in software and services and also expects to be profitable on a non-GAAP basis and to generate positive free cash flow for the full year.
Finally, BlackBerry today announced that it has received acceptance from the Toronto Stock Exchange to purchase up to 31,000,000 common shares before cancellation, representing approximately 6.4% of outstanding free float.
Copyright (c) 2017 CercleFinance.com. All rights reserved.