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Macquarie has cut BlackBerry (BBRY -25.2%) to Underperform following its FQ1 miss. Nomura notes...

Macquarie has cut BlackBerry (BBRY -25.2%) to Underperform following its FQ1 miss. Nomura notes EPS would've been -$0.03 rather than -$0.13 if not for one-time items, but this is still below a $0.07 consensus. Guidance for an FQ2 operating loss suggests FQ2 EPS will be below a $0.12 consensus. Thorsten Heins stated on the earnings call the PlayBook won't receive a BB10 upgrade. Service revenue -16% Q/Q, would've been -9% if not for Venezuelan currency issues. Inventories +$284M Q/Q to $887M; North America was 24.8% of revenue, EMEA 43.7%, Latin America 14.6% (hurt by Venezuela), and Asia-Pac 16.9%. Subscriber data won't be given going forward. The Q5 is said to have a relatively low margin. (previous)
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Comments (24)
  • Tony (long)
    , contributor
    Comments (70) | Send Message
     
    Yep not too much to be cheery about unless you're short...
    28 Jun 2013, 12:41 PM Reply Like
  • Loon-a-tick
    , contributor
    Comments (1614) | Send Message
     
    Yeah Baby hindsight is 20/20. But you know what...BB has done really well today considering the number of shorts...and all they are doing today is resolving really crappy positions. Almost 10 mil traded in TO today and it is inching up. BB is right priced at 11 to 15 bucks and could still do 20$ in a little more than a year. So we didn't get rich ...but you only lose if you sold this morning. I am positive someone is picking up some serious shares today. (And I am still reminded of Monty Python and the Holy Grail...the knight who kept fighting after he loses limb by limb and keeps calling the cowards back to fight. I may be him....)
    28 Jun 2013, 12:42 PM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    Although I somewhat agree with you...you watch too much Monty Python. The cowards are investors who care little about the potential of this company, and would rather pants them then see them succeed. As much as I would have loved to start at this price, I have no doubt that their stock will bounce back, it will increase after next quarter's Q10, and Z10 earnings. Blackberry hasn't even started to fully market these devices and they already beat iPhone 1st, and second Quarter sales. Once they promote the benefits of BB10 to those who are hesitant, I'm pretty sure they will claim their business customers back, and even take a good chunk of gadget freaks who need the latest apps with the android acceleration. They are making a good decision on focusing on BB10, and not competing on the App platform. I think they learn something from Samsung. Sure they have a marketplace for apps, but if their consumers relied on it they would be in Blackberry's position Pre-BB10.
    28 Jun 2013, 04:13 PM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    "Let me also make some comments on Playbook. Our teams have spent a great deal of time and energy looking at solutions that could move the Blackberry 10 experience to Playbook. But unfortunately, I am not satisfied with the level of performance and user experience, and I made the difficult decision to stop these efforts and focus on our core hardware portfolio. We will, however, support Playbook on the existing software platforms and configurations."

     

    I am pretty upset with this decision to deny the Playbook BB10, but if they provide an update for Android acceleration then maybe this is all the Playbook needs, to compete. The biggest problem is the lack of apps...they need to fix that issue more than anything.
    28 Jun 2013, 12:49 PM Reply Like
  • marketbuzz285
    , contributor
    Comments (47) | Send Message
     
    This is not going to decrease the stock anymore. I will seek re-entry since this ER did not include but a week of Q10 sales. Though Z10 may not have sold as well as everyone wanted, however the Q10 numbers will be much more interesting in September. I hope TH will provide the numbers and not avoid the question.
    28 Jun 2013, 12:51 PM Reply Like
  • SA_Member_8998191
    , contributor
    Comments (163) | Send Message
     
    they didn't include sale numbers because they're dismal and would scare away even the most devoted blackberry cultists
    28 Jun 2013, 02:36 PM Reply Like
  • SA_Member_8998191
    , contributor
    Comments (163) | Send Message
     
    they didn't include sale numbers because they're dismal and would scare away even the most devoted blackberry cultists
    28 Jun 2013, 02:36 PM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    The Z10 sold better than iPhone did in it's first quarter, so I would say it was successful, and with the next gen possibly having a lower retail price, more people will buy in. I haven't bought one yet, but if the price is right, I would get a Z10 over an iPhone any day. The stability, security, and flow of a Blackberry with the availability of Android applications. Sounds good to me!
    28 Jun 2013, 04:19 PM Reply Like
  • Shane Zhao
    , contributor
    Comments (46) | Send Message
     
    "I would get a Z10 over an iPhone any day." Then go get one. BBRY lovers, now it is time to show your support, no more "would,could" empty words.
    28 Jun 2013, 04:43 PM Reply Like
  • TheBaronInvesting
    , contributor
    Comments (237) | Send Message
     
    I think Blackberry was trying to place BB10 onto the existing Playbook infrastructure, and it didn't perform properly.... They decided that they are going to invest into their phones first, then worry about an updated Playbook at a later date once they've turned the company around.

     

    The Playbook is still a potential high-secure tablet, like BB's phones represent now, it's just not feasable to pour money into an updated tablet when the phone segment is higher-margin, and more necessary to keep the company a float.
    28 Jun 2013, 01:57 PM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    I think all Blackberry in the meantime needs to make their current Playbook OS optimized with Android Acceleration. This will increase interest, and tablet sales. The lack of apps is really the biggest grip Playbook owners have. They need to have the necessary business, and gaming apps to appeal to both audiences. Angry Birds is dead and Candy Crush Saga is not on the Playbook. They also need to re-release the keyboard for intensive writing on the Playbook to compete with other tablets.
    28 Jun 2013, 02:09 PM Reply Like
  • SA_Member_8998191
    , contributor
    Comments (163) | Send Message
     
    here comes more delusional childrem to blame this move on evil forces beyond BBRY's control. before it was shorts, before it was the media, now it's probably the company's own financial releases working against them lol! doomed! bagholders should get out before this junk company goes bankrupt
    28 Jun 2013, 02:35 PM Reply Like
  • jack434
    , contributor
    Comments (43) | Send Message
     
    This was but a skirmish lost in a great undertaking, stentorian one.
    28 Jun 2013, 02:47 PM Reply Like
  • LYogi
    , contributor
    Comments (2251) | Send Message
     
    I love BBRY's long term potential. I'm not looking to make a decision about selling until this time next year.

     

    In fact, this is a great time to double down.
    28 Jun 2013, 02:59 PM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    I'm trying to open up some available funds right now. I'm going to buy more if I can get it at this price in time.
    28 Jun 2013, 03:06 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3080) | Send Message
     
    Looking at the EMEA importance in the total, it is a bit surprising that the Q5 was not rolled out sooner. I understand these things take time, but until we see roll-outs in more price sensitive markets, we will not have a solid view of future potential. Also, it is a bit odd that the cash pile grew larger, given the statement in the previous quarter about increasing their marketing efforts.
    28 Jun 2013, 03:14 PM Reply Like
  • slcUTAH
    , contributor
    Comments (534) | Send Message
     
    Just a word of caution. The shorts' next mission will be to knock the SP down to the $7 - $8 range. This thing may not have bottomed just yet.
    28 Jun 2013, 03:14 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3080) | Send Message
     
    Looking at September options the $8 and $10 strikes are seeing some activity, but not exactly bargains. Options players probably have one or two more quarters to play this company. Longer term Prem Watsa is right.
    28 Jun 2013, 03:30 PM Reply Like
  • logicalman
    , contributor
    Comments (763) | Send Message
     
    sicUTAH,
    Regretfully I have to say you could be right. For precisely that reason I will most likely wait before adding to my already too large position. I refuse to sell at these prices. BBRY's future still looks great, the rout was caused by too many with unreasonable expectations, and panic selling by same, lemmings rushing to the cliff!!!
    29 Jun 2013, 01:24 PM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    I think the shorts are moving to AAPL now, they know the longs will sustain this bottom line. Unless there are still some shorts vested there is no way they can lower the stock beyond this price without scare tactics...I'm not scared, are you?
    30 Jun 2013, 12:13 AM Reply Like
  • MoV1
    , contributor
    Comments (96) | Send Message
     
    revenue UP, phone shipments UP, small loss so what this is a turnaround profits come later. Buying MORE. Stay cool. Have a nice WE all
    29 Jun 2013, 10:07 AM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    Just feel sorry for the future of AAPL long investors, and sleep well knowing your stock is vested in a growing company.
    30 Jun 2013, 12:15 AM Reply Like
  • BugleBoy
    , contributor
    Comments (158) | Send Message
     
    I'm sick of analysts... They sit in offices and produce nothing. Sales are up q/q; not good enough. Added another $200M cash; not good enough. Ramped up advertising; not good enough. Produce superior phones; not good enough. Best security hands down; not good enough. Best data compression; not good enough. One could go on and on, but I won't. My his/hers Z10's getting delivered today.
    2 Jul 2013, 11:18 AM Reply Like
  • LibertyCampaign
    , contributor
    Comments (506) | Send Message
     
    I hope the analysts' cynicism prevents them from buying in at this price, because when the BB Q5 phones do well in India it will be too late for them to profit. Let them buy in over $10, I bought mine already. We already know where the floor is on this stock. We just need another positive press release from Blackberry, and then it's smooth sailing. We might hear something by July 20th when the Q5 is fully deployed in India. What's funny is these Blackberry haters, are still investing in the stock, How may Blackberry supporters would risk buying Apple stock?..or even Samsung?
    17 Jul 2013, 01:06 AM Reply Like
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