Blackberry earnings beat on both top and bottom lines

FILE PHOTO: Blackberry CEO Chen speaks to reporters following their annual general meeting for shareholders in WaterlooThomson Reuters

• Blackberry posted second-quarter results that beat on both the top and bottom lines.
• The company said revenue from its main business — software and services — will grow 8-10% year-over-year, and that adjusted earnings per share will be positive for fiscal year 2019.
• Watch Blackberry trade in real time here.

Blackberry posted second-quarter results ahead of Friday’s opening bell that beat on both the top and bottom lines. 

The smartphone brand said that it earned $0.04 a share, topping the $0.01 gain that analysts surveyed by Bloomberg were expecting. It reported revenue of $214 million revenue, edging out the $210 million that was expected. A total of $92 million of revenue come from its main business, enterprise-software services, and its technology-solutions business contributed $49 million. 

“In the quarter, we exceeded our financial expectations driven by sequential growth in both our BlackBerry Technology Solutions and Enterprise Software and Services businesses” CEO John Chen said in the press release.

“I am very encouraged by BlackBerry’s leadership opportunities in the fast-growing Enterprise of Things, and by our strategy to capitalize on these significant future opportunities with BlackBerry Spark, our platform to securely communicate and collaborate between smart endpoints.”

Looking head, the company expects its software and services revenue to grow 8-10% year-over-year, and sees its adjusted earnings per share to be positive for fiscal 2019.

Shares were up about 2% after the results. They were down 15% this year through Thursday.

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