More on BlackBerry's FQ3


With hardware sales continuing to fall, BlackBerry's (BBRY +2.2%) FQ3 hardware/services/software revenue mix was 40%/53%/7%. That compares with 49%/46%/5% in FQ2, and 61%/36%/3% in FQ1.

Estimated phone sell-through of 4.3M units was below estimated FQ2 sell-through of 5.9M, and reported FQ1 sell-in of 6.8M.

EMEA now makes up 46% of revenue; sales to the region fell 47% Y/Y. North American sales (28.5% of total) also -47%, Latin America (11.3% of total) -75%, Asia-Pac (14.2% of total) -56%.

With BlackBerry's massive job cuts in full swing, R&D spend fell 18% Y/Y to $322M. However, SG&A spend rose 11% to $543M; declines are likely in future quarters.

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Comments (9)
  • andypochta1
    , contributor
    Comments (1305) | Send Message
     
    Shorts are covering big time, and that's on bad news :) and they still need to buy 1/3 of ALL shares, this investor not selling single share below $16.
    John Chen rulez!
    20 Dec 2013, 10:15 AM Reply Like
  • Chaffey
    , contributor
    Comments (984) | Send Message
     
    I don't know if the shorts are covering Andy but I am surprised that the price is going to 7$ today...I though maybe in the new year.
    I think it is the plan that has people worried that may be shorts. It may be a long time before the thought of 3$ hits anyone as an idea. Especially when the cash is positive still.
    Could someone clarify if the cash includes the money borrowed from Watsa and Company or without?
    20 Dec 2013, 10:32 AM Reply Like
  • Chaffey
    , contributor
    Comments (984) | Send Message
     
    The shorts must be covering ...no other explanation for sharp increase.
    20 Dec 2013, 10:32 AM Reply Like
  • Chris Lau
    , contributor
    Comments (3840) | Send Message
     
    That $3 call floating for the days preceding this report was actually a sign that (BBRY) shares have bottomed. Now up 12%, I believe the stock finally stopped falling. Cash still up, services revenue getting bigger (proportionately, not absolute), which hints of further growth in this segment about a year from now.

     

    Anyone buying (BBRY) should have a 1 year time frame. It's probably a double-digit stock by this time next year. I'm imagining 150M BBM users, full BES 10.2 server deployment, and better Z30 sales (better margins, not absolute increases in unit sales).

     

    Boosting EMEA by outsourcing it to a 3rd party is a good move by management. Chen's delivering already. Expect cash balances to keep rising from here.
    20 Dec 2013, 10:55 AM Reply Like
  • andypochta1
    , contributor
    Comments (1305) | Send Message
     
    You change your tune on a dime don't you?
    $16 by end of January.
    $30 by end of 2014 or sooner.
    20 Dec 2013, 11:16 AM Reply Like
  • Chaffey
    , contributor
    Comments (984) | Send Message
     
    16% gain in minutes...
    " they ran so fast down the Mississippi, all the way to the Gulf of Mexico...."
    Johnny Horton
    20 Dec 2013, 10:59 AM Reply Like
  • LLAmos
    , contributor
    Comments (10) | Send Message
     
    I like Chen's new strategic direction. Now, if he can hold over the profits-now crew...
    20 Dec 2013, 11:41 AM Reply Like
  • jammerculture
    , contributor
    Comments (402) | Send Message
     
    This corpse is still twitching
    20 Dec 2013, 01:46 PM Reply Like
  • dserradas
    , contributor
    Comments (45) | Send Message
     
    Glad I got out of this stock a long time ago. I'll enjoy watching this disaster from the sidelines with popcorn in hand.
    20 Dec 2013, 03:35 PM Reply Like
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