BlackBerry: shares weaker despite strong results

(CercleFinance.com) - Canada's BlackBerry reported strong first-quarter earnings on Friday, thanks to software and services revenue, although this performance failed to send its Nasdaq-listed shares up in early-morning trading.


The company - which licenses security software and services to device manufacturers - is "off to a solid start" in fiscal 2019, driven by strong double-digit billings, Chief Executive John Chen said.

BlackBerry software is now embedded in over 120 million automobiles worldwide, having doubled the installed base in the last three years.

The company reported non-GAAP revenue for the first quarter of fiscal 2019 of 217 million dollars with software and services revenue of 193 million, up 14% y-o-y.

Non-GAAP operating income was 12 million dollars, positive for the ninth consecutive quarter, the group said.

BlackBerry's outlook for fiscal 2019 aims at software and services revenue growth of between 8% to 10% with non-GAAP EPS expected to be positive.

Shares of the Ontario-based company were down 0.7% in early-morning trading.

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