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Factors to Note Ahead of BlackBerry's (BB) Q3 Earnings Release
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BlackBerry (BB - Free Report) is scheduled to report third-quarter fiscal 2023 results on Dec 20.
The Zacks Consensus Estimate for fiscal third quarter 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 reported an adjusted loss per share of 5 cents compared with the prior-year quarter’s loss of 6 cents per share. The Zacks Consensus Estimate was pegged at a loss of 7 cents per share. Quarterly total revenues declined 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.
Factors to Note
Higher billings growth, and higher demand for IoT and cyber-security solutions are likely to have driven BlackBerry’s fiscal third quarter performance.
BlackBerry’s Cyber Security business unit is expected to have witnessed solid traction for its recent unified endpoint security product launches, fueled by back-to-back partnerships with key players in the market. The company’s performance in the cyber security business is expected to have been driven by higher uptake of products like Protect, EPP and Guard Managed Service. The company is also witnessing increasing client base within government and financial services’ verticals.
Consistent design wins — especially in the automotive vertical for the BlackBerry QNX platform — are likely to have acted as tailwinds. In the fiscal second quarter, the company secured 9 new design wins in Auto and 10 in the General Embedded Market.
BlackBerry’s QNX software is now installed in more than 215 million vehicles. Within the auto sector, increasing consolidation of digital cockpits and the adoption of advanced driver assist systems augurs well for BlackBerry.
Disruptions related to global chip shortage is likely to have impacted the company’s performance negatively. Global macroeconomic weakness and lingering supply chain issues are also affecting global auto production volumes. Inflationary pressure, the ongoing Ukraine war and COVID-19 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.
General Mills is slated to release second-quarter fiscal 2023 results on Dec 20. The Zacks Consensus Estimate for earnings is pegged at $1.06 per share, indicating a year-over-year increase of 7.1%. Shares of GIS have increased 26.9% in the past year.
Limoneira Company (LMNR - Free Report) has an Earnings ESP of +25.00% and a Zacks Rank of 1.
Limoneira is set to release fourth-quarter fiscal 2022 results on Dec 22. The Zacks Consensus Estimate is pegged at a loss of 11 cents per share, narrower than loss of 28 cents per share reported in the prior-year quarter. Shares of LMNR have decreased 14.4% in the past year.
Accenture (ACN - Free Report) has an Earnings ESP of +0.95% and a Zacks Rank of 3.
Accenture is scheduled to release first-quarter fiscal 2023 results on Dec 16. The Zacks Consensus Estimate for earnings is pegged at $2.91 per share, indicating a year-over-year increase of 4.7%. Shares of ACN have lost 27.3% 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) Q3 Earnings Release
BlackBerry (BB - Free Report) is scheduled to report third-quarter fiscal 2023 results on Dec 20.
The Zacks Consensus Estimate for fiscal third quarter 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 reported an adjusted loss per share of 5 cents compared with the prior-year quarter’s loss of 6 cents per share. The Zacks Consensus Estimate was pegged at a loss of 7 cents per share. Quarterly total revenues declined 4% year over year to $168 million.
BlackBerry Limited Price and EPS Surprise
BlackBerry Limited price-eps-surprise | BlackBerry Limited Quote
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.
Factors to Note
Higher billings growth, and higher demand for IoT and cyber-security solutions are likely to have driven BlackBerry’s fiscal third quarter performance.
BlackBerry’s Cyber Security business unit is expected to have witnessed solid traction for its recent unified endpoint security product launches, fueled by back-to-back partnerships with key players in the market. The company’s performance in the cyber security business is expected to have been driven by higher uptake of products like Protect, EPP and Guard Managed Service. The company is also witnessing increasing client base within government and financial services’ verticals.
Consistent design wins — especially in the automotive vertical for the BlackBerry QNX platform — are likely to have acted as tailwinds. In the fiscal second quarter, the company secured 9 new design wins in Auto and 10 in the General Embedded Market.
BlackBerry’s QNX software is now installed in more than 215 million vehicles. Within the auto sector, increasing consolidation of digital cockpits and the adoption of advanced driver assist systems augurs well for BlackBerry.
Disruptions related to global chip shortage is likely to have impacted the company’s performance negatively. Global macroeconomic weakness and lingering supply chain issues are also affecting global auto production volumes. Inflationary pressure, the ongoing Ukraine war and COVID-19 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.
General Mills (GIS - Free Report) has an Earnings ESP of +0.11% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
General Mills is slated to release second-quarter fiscal 2023 results on Dec 20. The Zacks Consensus Estimate for earnings is pegged at $1.06 per share, indicating a year-over-year increase of 7.1%. Shares of GIS have increased 26.9% in the past year.
Limoneira Company (LMNR - Free Report) has an Earnings ESP of +25.00% and a Zacks Rank of 1.
Limoneira is set to release fourth-quarter fiscal 2022 results on Dec 22. The Zacks Consensus Estimate is pegged at a loss of 11 cents per share, narrower than loss of 28 cents per share reported in the prior-year quarter. Shares of LMNR have decreased 14.4% in the past year.
Accenture (ACN - Free Report) has an Earnings ESP of +0.95% and a Zacks Rank of 3.
Accenture is scheduled to release first-quarter fiscal 2023 results on Dec 16. The Zacks Consensus Estimate for earnings is pegged at $2.91 per share, indicating a year-over-year increase of 4.7%. Shares of ACN have lost 27.3% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.