Why BlackBerry Ltd (BBRY) Stock Is Soaring Today
BlackBerry Ltd (NASDAQ: BBRY ) stock was soaring today following the release of its earnings report for its fiscal second quarter of 2018.
During its fiscal second quarter of 2018, BlackBerry Ltd reported earnings per share of 5 cents. This is an increase over its flat earnings per share from the same time last year. This is good news for BBRY stock as it comes in above Wall Street's earnings per share estimate of 0 cents for the quarter.
BlackBerry Ltd reported revenue of $238 million in its fiscal second quarter of 2018. This is down from its revenue of $334 million that was reported in its fiscal second quarter of 2017. However, it did come in above analysts' revenue estimate of $219.91 million for the quarter.
Operating income reported by BlackBerry Ltd in its fiscal second quarter of 2018 was $22 million . This is better than the mobile communications company's operating loss of $355 million from the same period of the year prior.
BlackBerry Ltd reported net income of $19 million in its fiscal second quarter of 2017. This up from its net loss of $355 million that was reported in its fiscal second quarter of the previous year.
BlackBerry Ltd also updated its outlook for fiscal 2018 in its most recent earnings report. The company says that it is expecting revenue for the year to range from $920 million to $950 million. This is positive news for BBRY stock as Wall Street is looking for revenue in fiscal 2018 to reach 919.53 million.
When it comes to its earnings per share expectations for fiscal 2018, BlackBerry Ltd wasn't quite as clear. Instead, it simply says that it expects earnings per share for fiscal 2018 to be positive. Analysts are looking for earnings per share of 4 cents in fiscal 2018.
BBRY stock was up 12% as of Thursday morning and is up 51% year-to-date.
More From InvestorPlace
- 10 Worst Tech Products of 2017 Include a "Smart" Hairbrush
- The 10 Safest Blue-Chip Dividend Stocks for the Rest of the Year
- The 10 Best Stocks of 2017 Through Q3
As of this writing, William White did not hold a position in any of the aforementioned securities.