BlackBerry (NYSE:BB) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

BlackBerry (NYSE:BB) released its earnings results on Wednesday. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01, RTT News reports. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The firm had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $132.05 million. During the same quarter last year, the business posted $0.04 earnings per share. The firm’s revenue was down 61.4% on a year-over-year basis.

BlackBerry Trading Down 1.3 %

NYSE BB opened at $2.21 on Thursday. The business has a 50 day simple moving average of $2.77 and a two-hundred day simple moving average of $2.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. BlackBerry has a 1-year low of $2.20 and a 1-year high of $5.75.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, BlackBerry has a consensus rating of “Hold” and a consensus target price of $4.08.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.