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Here's What to Expect From BlackBerry's (BB) Q4 Earnings
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BlackBerry Limited (BB - Free Report) is scheduled to report fourth-quarter fiscal 2024 results on Apr 3.
The Zacks Consensus Estimate is pegged at a loss of 3 cents per share, which remained unchanged over the past 60 days. The company reported a loss of 2 cents in the prior-year quarter.
In the last reported quarter, BB reported adjusted earnings per share (EPS) of 1 cent. In the prior-year quarter, it incurred non-GAAP loss of 5 cents. Quarterly total revenues were $175 million compared with $169 million in the prior quarter. The top line missed the Zacks Consensus Estimate by 12.2%.
Rising demand for its cybersecurity solutions is likely to have acted as a tailwind. BB’s performance is also likely to have benefited from strength in the automotive segment, particularly solid demand for its solutions across the advanced driver assistance systems market.
Rapid adoption of the QNX platform in the Auto and General Embedded market is a positive factor. Continued design win momentum is likely to have further strengthened QNX royalty backlog.
Management expects fiscal fourth-quarter total revenues in the range of $150-$159 million.
However, the company expects fourth-quarter IoT revenues to be affected by UAW labor disputes that will disrupt production volumes for some of its major customers. Also, the ongoing slippage of software programs at key automakers is a major headwind. For the IoT business, revenues are now projected in the band of $62-$66 million.
For the Cybersecurity business, revenues are estimated in the range of $83-$88 million. The company expects revenues to be affected due to the reassessment of the likelihood, size, and timing of some of the large government deals.
Key Developments
On Mar 26, 2024, BlackBerry opened a Cybersecurity Center of Excellence in Kuala Lumpur. The center is built to impart cybersecurity training and cyber threat intelligence to aid Malaysia and its partner countries in the Indo-Pacific region to detect and thwart cyber threats to governments.
On Feb 13, 2024, BlackBerry provided updates on its progress regarding separation of business divisions. The company is now anticipating $100 million of annualized net profit improvements in addition to $50 million of annualized cost savings disclosed in previous quarter. Regarding the creation of standalone entities, management has established divisional leadership teams and appointed external consulting firms to aid in smooth separation of businesses. Management also reiterated revenue outlook for the fourth quarter of fiscal 2024.
On Jan 10, 2024, BB announced that its IVY platform is being used by Mobility in Harmony Consortium for advanced development of its next-generation Project X, and upcoming passenger and commercial vehicle reference platforms.
On the same day, management announced the launch of QNX Everywhere, which is aimed at meeting the growing demand for skilled embedded systems developers globally. QNX Everywhere provides accessible opportunities for students, academic institutions and researchers to gain knowledge in QNX technologies and bridge the skill gap in the global developer ecosystem.
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 stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time around.
The Zacks Consensus Estimate for CBSH’s to-be-reported quarter’s earnings and revenues is pegged at 79 cents per share and $384.4 million, respectively.
Delta Air Lines, Inc. (DAL - Free Report) has an Earnings ESP of +3.32% and a Zacks Rank #3. DAL is scheduled to report first-quarter 2024 earnings on Apr 10.
The Zacks Consensus Estimate for DAL’s to-be-reported quarter’s earnings and revenues is pegged at 33 cents per share and $12.88 billion, respectively.
JPMorgan Chase & Co. (JPM - Free Report) has an Earnings ESP of +0.94% and a Zacks Rank #3. JPM is set to post first-quarter 2024 results on Apr 12.
The Zacks Consensus Estimate for JPM’s to-be-reported quarter’s earnings and revenues is pegged at $4.21 per share and $40.8 billion, respectively.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Here's What to Expect From BlackBerry's (BB) Q4 Earnings
BlackBerry Limited (BB - Free Report) is scheduled to report fourth-quarter fiscal 2024 results on Apr 3.
The Zacks Consensus Estimate is pegged at a loss of 3 cents per share, which remained unchanged over the past 60 days. The company reported a loss of 2 cents in the prior-year quarter.
In the last reported quarter, BB reported adjusted earnings per share (EPS) of 1 cent. In the prior-year quarter, it incurred non-GAAP loss of 5 cents. Quarterly total revenues were $175 million compared with $169 million in the prior quarter. The top line missed the Zacks Consensus Estimate by 12.2%.
BlackBerry Limited Price and EPS Surprise
BlackBerry Limited price-eps-surprise | BlackBerry Limited Quote
Factors to Note
Rising demand for its cybersecurity solutions is likely to have acted as a tailwind. BB’s performance is also likely to have benefited from strength in the automotive segment, particularly solid demand for its solutions across the advanced driver assistance systems market.
Rapid adoption of the QNX platform in the Auto and General Embedded market is a positive factor. Continued design win momentum is likely to have further strengthened QNX royalty backlog.
Management expects fiscal fourth-quarter total revenues in the range of $150-$159 million.
However, the company expects fourth-quarter IoT revenues to be affected by UAW labor disputes that will disrupt production volumes for some of its major customers. Also, the ongoing slippage of software programs at key automakers is a major headwind. For the IoT business, revenues are now projected in the band of $62-$66 million.
For the Cybersecurity business, revenues are estimated in the range of $83-$88 million. The company expects revenues to be affected due to the reassessment of the likelihood, size, and timing of some of the large government deals.
Key Developments
On Mar 26, 2024, BlackBerry opened a Cybersecurity Center of Excellence in Kuala Lumpur. The center is built to impart cybersecurity training and cyber threat intelligence to aid Malaysia and its partner countries in the Indo-Pacific region to detect and thwart cyber threats to governments.
On Feb 13, 2024, BlackBerry provided updates on its progress regarding separation of business divisions. The company is now anticipating $100 million of annualized net profit improvements in addition to $50 million of annualized cost savings disclosed in previous quarter. Regarding the creation of standalone entities, management has established divisional leadership teams and appointed external consulting firms to aid in smooth separation of businesses. Management also reiterated revenue outlook for the fourth quarter of fiscal 2024.
On Jan 10, 2024, BB announced that its IVY platform is being used by Mobility in Harmony Consortium for advanced development of its next-generation Project X, and upcoming passenger and commercial vehicle reference platforms.
On the same day, management announced the launch of QNX Everywhere, which is aimed at meeting the growing demand for skilled embedded systems developers globally. QNX Everywhere provides accessible opportunities for students, academic institutions and researchers to gain knowledge in QNX technologies and bridge the skill gap in the global developer ecosystem.
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 stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time around.
Commerce Bancshares, Inc. (CBSH - Free Report) has an Earnings ESP of +5.88% and carries a Zacks Rank #2. CBSH is slated to release first-quarter 2024 numbers on Apr 16. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CBSH’s to-be-reported quarter’s earnings and revenues is pegged at 79 cents per share and $384.4 million, respectively.
Delta Air Lines, Inc. (DAL - Free Report) has an Earnings ESP of +3.32% and a Zacks Rank #3. DAL is scheduled to report first-quarter 2024 earnings on Apr 10.
The Zacks Consensus Estimate for DAL’s to-be-reported quarter’s earnings and revenues is pegged at 33 cents per share and $12.88 billion, respectively.
JPMorgan Chase & Co. (JPM - Free Report) has an Earnings ESP of +0.94% and a Zacks Rank #3. JPM is set to post first-quarter 2024 results on Apr 12.
The Zacks Consensus Estimate for JPM’s to-be-reported quarter’s earnings and revenues is pegged at $4.21 per share and $40.8 billion, respectively.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.