Seeking Alpha

BlackBerry (BBRY +3.8%) is off its premarket highs, but still up following mixed FQ4 results....

BlackBerry (BBRY +3.8%) is off its premarket highs, but still up following mixed FQ4 results. BB10 shipments were roughly in-line with consensus. Total BlackBerry shipments -13% Q/Q and -23% Y/Y (they fell 7% Q/Q and 51% Y/Y in FQ3), and the BlackBerry sub base fell by 3M Q/Q to 76M. However, gross margin rose 970 bps Q/Q and 660 bps Y/Y to 40.1%, fueling the EPS beat. Opex +3% Q/Q and -8% Y/Y (exc. last year's goodwill charge) vs. a 36% revenue drop. Cash balance unchanged Q/Q at $2.9B. A 50% Q/Q increase in marketing spend is forecast, but BlackBerry still expects FQ1 results to be near breakeven, above a -$0.12 EPS consensus.
Comments (9)
  • Crispin_in_Waterloo
    , contributor
    Comments (883) | Send Message
    The financial report is at
    28 Mar 2013, 09:58 AM Reply Like
  • SoldHigh
    , contributor
    Comments (983) | Send Message
    A decent marketing strategy would make a world of difference for this company imo
    28 Mar 2013, 09:59 AM Reply Like
  • gwynfryn
    , contributor
    Comments (3827) | Send Message
    Yes, just so So, it's been a bit lackadaisical, hasn't it; still not an ad to be seen (let alone an actual phone) here in central France.
    28 Mar 2013, 10:36 AM Reply Like
  • 2MuchDebt
    , contributor
    Comments (215) | Send Message
    @SoldHigh: I agree. I walked into a local Verizon store today; no signage for the Z10. I played around with the Z10 for about 10-15 minutes. The phone is awesome. Great user reviews as well from AT&T and Verizon customers.
    28 Mar 2013, 04:32 PM Reply Like
  • 2MuchDebt
    , contributor
    Comments (215) | Send Message
    If / when people start to realize the Z10 is a great smartphone (which it is), I think you'll see a lot of people move from the Android and iOS platforms to BB10. And to think the Z10 is Blackberry's first smartphone without a physical keyboard. Good things to come from Blackberry in the smartphone realm.
    28 Mar 2013, 05:28 PM Reply Like
  • lecso
    , contributor
    Comments (82) | Send Message
    Big thing is they did not burn up the cash on hand. Balance sheet looks healthy. Overall very positive quarter. Playbook sales are up too....
    28 Mar 2013, 10:01 AM Reply Like
  • slcUTAH
    , contributor
    Comments (486) | Send Message
    The Playbook sales were surprising. Melissa Lee of CNBC this morning reported sales of over 300,000 units.


    28 Mar 2013, 10:21 AM Reply Like
  • LYogi
    , contributor
    Comments (1948) | Send Message
    Here's the thing, this past Quarter was all about transition and the beginning of it to the new platform/launches, etc. I fully expected subs to drop because the new phones were not yet on offer for the most part. Once Q10 launches (I've heard it will be in less than two weeks in Canada) you are going to see the subs start to rise again. If 55% of Z10 users came from another platform, how many users out there do you think will re-convert back to the Q10 now that the keyboard model has been retrofitted for 2013? A LOT.


    Bright things ahead for this company.
    28 Mar 2013, 10:13 AM Reply Like
  • rocmon
    , contributor
    Comments (84) | Send Message
    Sad to see Mike move on, but time for the big boys to work the corporate magic! Long $bbry $goog $aapl - three pillars of tech in North America
    28 Mar 2013, 10:19 AM Reply Like
DJIA (DIA) S&P 500 (SPY)