- "The short trade is over in this name for now - for now," says BGC's Colin Gillis after taking stock of BlackBerry's (BBRY +11.2%) FQ1 numbers. "They've got enough liquidity, (and) they've given us clear profitability targets."
- Cowen's Timothy Arcuri likes the bottom-line improvement, as well as BlackBerry's gross margin expansion and better-than-expected services numbers. "We still see BES 12 transition as the key to sustained LT growth, but current momentum will certainly resonate with investors."
- Services revenue, affected by BB10-related consumer price cuts, fell to 54% of revenue in FQ1 from 56% in FQ4. Hardware rose to 39% from 37%, and software/other was steady at 7%.
- On the CC, John Chen mentioned early sales of BlackBerry's $200 Z3 phone (5", touch-only, launched in Indonesia) have been strong, and that inventory has run low at times. FQ1 end-user phone purchases of 2.6M were down from FQ4's 3.4M and FQ3's 4.3M.
- Job cuts at work: SG&A spend fell 41% Y/Y to $400M, and R&D spend 34% to $237M. 19% of the float was shorted as of May 30.
- Earlier: FQ1 results, details
From other sites
Video at CNBC.com (Jun 2, 2015)
Video at CNBC.com (May 26, 2015)
at CNBC.com (May 24, 2015)
at CNBC.com (May 7, 2015)
at CNBC.com (Mar 27, 2015)
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