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Factors to Note Ahead of BlackBerry's (BB) Q2 Earnings Release
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BlackBerry Limited (BB - Free Report) is scheduled to report second-quarter fiscal 2023 results on Sep 27.
The Zacks Consensus Estimate for the bottom line is pegged at a loss of 7 cents per share, unchanged in the past 30 days.
In the last reported quarter, the company delivered an adjusted loss per share of 5 cents, in line with the prior-year quarter’s levels. The Zacks Consensus Estimate was pegged at a loss of 6 cents per share. Quarterly total revenues declined 3.4% year over year to $168 million.
This Canada-based firm invests in product development and the go-to-market strategy to drive long-term sustainable growth. It has aligned the software and services business around two key market opportunities — Cyber Security and IoT.
Continued billings growth, and higher demand for IoT and cyber-security solutions are likely to have driven BlackBerry’s fiscal second-quarter performance.
Consistent design wins — especially in the automotive vertical for the BlackBerry QNX platform — are likely to have acted as a tailwind. In the fiscal first quarter, in the IoT business unit, the company’s QNX platform secured 14 new design wins with nine in auto and five wins in the General Embedded Market.
Within the auto sector, increasing consolidation of digital cockpits and the adoption of advanced driver assist systems augurs well for BlackBerry.
BlackBerry’s QNX software is now installed in more than 215 million vehicles, surging 20 million year over year, per independent research firm — Strategy Analytics. The company’s QNX royalty revenue backlog witnessed a 14% year-over-year rise to $560 million at the end of first-quarter fiscal 2023.
BlackBerry’s Cyber Security business is expected to have witnessed solid traction for its latest unified endpoint security (UEM) product launches, fueled by back-to-back partnerships with major players in the market. The company’s cyber-business performance is expected to have been driven by higher uptake of products like Protect, EPP and Guard Managed Service.
The company’s IoT business is likely to have been negatively impacted by disruptions related to the global chip shortage. Global macroeconomic weakness and lingering supply chain issues have also been affecting global auto production volumes. Inflationary pressure, the ongoing Ukraine war and COVID-related lockdowns in China are added concerns.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for BlackBerry this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
BlackBerry has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
Accolade is slated to release second-quarter fiscal 2023 results on Oct 6. The Zacks Consensus Estimate is pegged at loss of $6.54 per share.
Progress Software Corporation (PRGS - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank of 3.
Progress Software is set to release third-quarter fiscal 2022 results on Sep 27. The Zacks Consensus Estimate is pegged at $4.08 per share. Shares of PRGS have decreased 6.5% in the past year.
Acuity Brands (AYI - Free Report) has an Earnings ESP of +5.08% and a Zacks Rank of 3.
Acuity Brands is scheduled to release fourth-quarter fiscal 2022 results on Oct 4. The Zacks Consensus Estimate for earnings is pegged at $12.28 per share. Shares of AYI have lost 8.8% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Factors to Note Ahead of BlackBerry's (BB) Q2 Earnings Release
BlackBerry Limited (BB - Free Report) is scheduled to report second-quarter fiscal 2023 results on Sep 27.
The Zacks Consensus Estimate for the bottom line is pegged at a loss of 7 cents per share, unchanged in the past 30 days.
In the last reported quarter, the company delivered an adjusted loss per share of 5 cents, in line with the prior-year quarter’s levels. The Zacks Consensus Estimate was pegged at a loss of 6 cents per share. Quarterly total revenues declined 3.4% year over year to $168 million.
This Canada-based firm invests in product development and the go-to-market strategy to drive long-term sustainable growth. It has aligned the software and services business around two key market opportunities — Cyber Security and IoT.
BlackBerry Limited Price and EPS Surprise
BlackBerry Limited price-eps-surprise | BlackBerry Limited Quote
Factors to Note
Continued billings growth, and higher demand for IoT and cyber-security solutions are likely to have driven BlackBerry’s fiscal second-quarter performance.
Consistent design wins — especially in the automotive vertical for the BlackBerry QNX platform — are likely to have acted as a tailwind. In the fiscal first quarter, in the IoT business unit, the company’s QNX platform secured 14 new design wins with nine in auto and five wins in the General Embedded Market.
Within the auto sector, increasing consolidation of digital cockpits and the adoption of advanced driver assist systems augurs well for BlackBerry.
BlackBerry’s QNX software is now installed in more than 215 million vehicles, surging 20 million year over year, per independent research firm — Strategy Analytics. The company’s QNX royalty revenue backlog witnessed a 14% year-over-year rise to $560 million at the end of first-quarter fiscal 2023.
BlackBerry’s Cyber Security business is expected to have witnessed solid traction for its latest unified endpoint security (UEM) product launches, fueled by back-to-back partnerships with major players in the market. The company’s cyber-business performance is expected to have been driven by higher uptake of products like Protect, EPP and Guard Managed Service.
The company’s IoT business is likely to have been negatively impacted by disruptions related to the global chip shortage. Global macroeconomic weakness and lingering supply chain issues have also been affecting global auto production volumes. Inflationary pressure, the ongoing Ukraine war and COVID-related lockdowns in China are added concerns.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for BlackBerry this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
BlackBerry has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
Accolade (ACCD - Free Report) has an Earnings ESP of +4.86% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Accolade is slated to release second-quarter fiscal 2023 results on Oct 6. The Zacks Consensus Estimate is pegged at loss of $6.54 per share.
Progress Software Corporation (PRGS - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank of 3.
Progress Software is set to release third-quarter fiscal 2022 results on Sep 27. The Zacks Consensus Estimate is pegged at $4.08 per share. Shares of PRGS have decreased 6.5% in the past year.
Acuity Brands (AYI - Free Report) has an Earnings ESP of +5.08% and a Zacks Rank of 3.
Acuity Brands is scheduled to release fourth-quarter fiscal 2022 results on Oct 4. The Zacks Consensus Estimate for earnings is pegged at $12.28 per share. Shares of AYI have lost 8.8% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.