BlackBerry stock fair value estimate cut to $12.00 from $13.50 at MKM Partners

BlackBerry stock fair value estimate cut to $12.00 from $13.50 at MKM Partners

BlackBerry’s stock soars after profit and sales beat expectations

Shares of BlackBerry Ltd. shot up 6.8% in premarket trade Wednesday, after the software company reported fiscal fourth-quarter profit and sales that beat expectations. The net loss for the quarter to Feb. 28 narrowed to $10 million, or 6 cents a share, from $47 million, or 10 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 5 cents, above the FactSet consensus of 1 cents. Revenue fell to $233 million from $286 million, but was above the FactSet consensus of $216 million, as software and services revenue of $218 million topped expectations of $196 million. Revenue from handheld devices fell to $2 million, in line with expectations, from $55 million, as the percentage of overall revenue dropped to 0.9% from 19.2%. For fiscal 2019, the company expects adjusted EPS to be “positive,” compared with the FactSet consensus of 8 cents. The stock has run up 76.4% over the past 12 months through Tuesday, while the S&P 500 has gained 10.8%.

Read on Market Watch


Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About