[Dunt Dunt Dunt]

For those who missed it, replay of Special Meeting now available:
Listen to the BlackBerry annual and special meeting replay | CrackBerry.com

But don't... just don't.

[Corbu]

Analysts: Don't expect BlackBerry to quit hardware just yet - FierceWireless

BlackBerry may still be struggling to find a market for its Priv handset, but analysts don't expect the company to throw in the towel on its hardware business just yet.

The Canadian company, which posts its fiscal 2017 first quarter tomorrow, launched the Android-powered Priv last fall in an attempt to regain at least a toehold in the smartphone market it once dominated. But the company shipped just 600,000 phones during its fiscal 2016 fourth quarter, falling well short of analysts' expectations.

It's unclear whether BlackBerry has managed to somehow boost Priv sales in the most recent quarter. In fact, CEO John Chen is likely to discuss plans for newer models of the phone, said Nicholas McQuire, vice president of enterprise at CCS Insight.

"We don't expect BlackBerry to announce anything major regarding its hardware business this quarter, but of course all eyes will be on the performance of the Priv in the quarter following a very poor performance last quarter," McQuire told FierceWireless via email. "We do however expect Mr. Chen will reveal more details about newer forthcoming models of the Priv, especially a corporate-focused mid-range device which he has suggested previously would be part of the strategy for hardware this year."

But if Priv sales remain sluggish, BlackBerry may feel an increased sense of urgency to shut down its manufacturing business in the coming months, Wells Fargo Securities analysts observed recently in a research note. The move would mark the end of an era for the one-time king of the mobile enterprise, but it would also boost BlackBerry's bottom line substantially.

"We examine a number of options for the hardware business but believe shutting it down would be most value-creating long-term," Wells Fargo opined. While the decision would see the company's revenues for the fiscal year slide to $1.07 billion from an estimated $1.91 billion, it would drastically improve both gross margin and operating margin. Wells Fargo predicted the move would result in earnings per share for the fiscal year of 27 cents, up from its current estimate of a 10-cent loss, and "would reduce balance sheet risk and volatility as well."

Meanwhile, analysts will be focused on BlackBerry's software sales and service revenues, which the company has increasingly focused on for the last few years.

"Overall, a big part of the story in the earnings will also likely be its software business, which has had a positive 2016," according to McQuire. "We expect a similar performance in software this quarter as well as the firm shifts focus towards this part of the business."

[Corbu]

Amber not around this time, unfortunately...
BNN - Watch TV Online | BlackBerry CEO: Handsets are no one?s future

masterful, rarsen, morganplus8 and 1 others like this.

[Corbu]

Don't forget your questions, guys...

We have until tomorrow 5 PM EST.

All questions welcomed... There are no bad questions...

Thanks.

[spiller]

Don't forget your questions, guys...

We have until tomorrow 5 PM EST.

All questions welcomed... There are no bad questions...

Thanks.

When will blackberry experience suite (productivity) be released on Google Play? Are they licensing this to Samsung for their 'FOCUS' functionality on the Note 7 launch?

Posted via CB10

[kadakn01]

Good summary on the recent option trades and a few notes for today, the overall volume for options on BBRY is down quite a bit, so less speculation in general. Some continuing bullish longer term trades today but some bearish shorter term trades as well.
http://www.schaeffersresearch.com/co...berry-ltd-bbry

Posted on my Priv

[masterful]

Did anyone take advantage of today's price?

Posted via my BlackBerry PRIV

[Andy_bb_king]

I have done my part again with two Privs and my record number of BlackBerry shares. Don't know what else I can contribute. All counting on JC tomorrow.

Posted from my trusted Passport

[bspence87]

Still waiting on a reasonable price here in Canada, Andy!

Good luck tomorrow, gents (and any lurking ladies). Maybe if we're lucky, there will be some sort of pleasant surprise. I really need to see something from JC, because I'm losing faith in JC. The software story is great, but the rest is still a mess.

[app_Developer]

I really need to see something from JC, because I'm losing faith in JC.

It is very frustrating listening to Chen, again today. There is something to said for having a leader who inspires confidence and makes you want to go to work every day and do the best work you've ever done. I'm not sure how I'd feel going to work at BB right now.

OTOH, I think expectations are so low now that tomorrow should be fine. The only disaster would be if they aren't showing organic growth in software. As long as they can show >5% there, tomorrow should be fine.

[Bacon Munchers]

Good summary on the recent option trades and a few notes for today, the overall volume for options on BBRY is down quite a bit, so less speculation in general. Some continuing bullish longer term trades today but some bearish shorter term trades as well.
http://www.schaeffersresearch.com/co...berry-ltd-bbry

Posted on my Priv

Hey fellas!

Just peeking in to keep my account alive. Lol.

Thanks Kadakn01 for that breakdown on options for stock dim wits like me. Going off your comment, it looks like we may see the SP drop in the short term, and then a gradual rise. No doubt all the players will be in full manipulation mode tomorrow.
Pretty surprised to learn that BlackBerry has a NYC pop up shop. (cool)


Cheers guys,
Still holding...
BM.

[CDM76]

Don't forget your questions, guys...

We have until tomorrow 5 PM EST.

All questions welcomed... There are no bad questions...

Thanks.

If BlackBerry priority is hardware profitability, why are products not released on an annual or bi-annual replacement cycle ? That way everyone knows that in 2 yrs there will be a viable replacement for the Z30 or Passport or Priv. Randomly releasing different form factors at random times in the replacement cycle just confuses people and leaves them frustrated.

Posted via CB10

[CDM76]

Still waiting on a reasonable price here in Canada, Andy!.

Agreed !!! It's still cheaper to order in USD, pay shipping and 30% exchange than to order in CDN $.

Posted via CB10

[world traveler and former ceo]

http://www.streetinsider.com/dr/news.php?id=11766678

BlackBerry (BBRY) Tops Q1 EPS by 8c; Revs Light

June 23, 2016 7:02 AM

BlackBerry (NASDAQ: BBRY) reported Q1 EPS of $0.00, $0.08 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $424 million versus the consensus estimate of $470.94 million.

Total cash, cash equivalents, short-term and long-term investments was $2.5 billion as of May 31, 2016. This reflects a use of free cash of $65 million, which includes negative $61 million of cash flow from operations. Cash flow from operations before working capital adjustments was negatively impacted by the inventory impairment and excluding the charges, would have been positive. Excluding $1.25 billion in the face value of our debt, the net cash balance at the end of the quarter was $1.3 billion. Purchase orders with contract manufacturers totaled approximately $150 million at the end of the first quarter, compared to $162 million at the end of the fourth quarter and down from $238 million in the year ago quarter.

"BlackBerry is differentiated by cross-platform market leadership in software, an end-to-end secure mobility platform and a strong financial foundation. Our Q1 results highlight these attributes. Excluding IP licensing, we have more than doubled our software revenue on a year-over-year basis for the second consecutive quarter, driven by our EMM, secure messaging and QNX embedded software businesses. In our Mobility Solutions business, our objective is to achieve operating profitability in the short term," said John Chen, Executive Chairman and CEO, BlackBerry.

"Our current plan calls for continued investments to expand our addressable markets and drive sustainable profitability and revenue growth. For the full fiscal year, we are on track to deliver 30 percent revenue growth in software and services. Based on a more efficient operating model, we expect a non-GAAP EPS loss of around 15 cents, compared to the current consensus of a 33 cent loss. We also expect to generate positive free cash flow for the full year."

Outlook

The Company anticipates maintaining a strong cash position and further reallocating additional resources to go-to-market and product development areas as it continues to execute on its strategy of positive adjusted EBITDA for the full 2017 fiscal year.

[Corbu]

BlackBerry Reports Record Software and Services Revenue for Q1 Fiscal 2017

June 23, 2016 07:00 ET

BlackBerry Reports Record Software and Services Revenue for Q1 Fiscal 2017

Company delivers positive non-GAAP operating income and breakeven non-GAAP EPS

WATERLOO, ONTARIO--(Marketwired - June 23, 2016) - BlackBerry Limited (NASDAQ:BBRY)(TSX:BB), a global leader in secure mobile communications, today reported financial results for the three months ended May 31, 2016 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Q1 Highlights

Company begins reporting multiple business segments: Software and Services, Service Access Fees (SAF) and Mobility Solutions. Mobility Solutions includes BlackBerry smartphones and device software licensing

Non-GAAP total revenue of $424 million
Non-GAAP software and services revenue of $166 million
Non-GAAP gross margin of 53%
Tenth consecutive quarter of positive adjusted EBITDA
Cash and investments balance of $2.5 billion at the end of the first fiscal quarter
Unveiled BlackBerry Radar, a new end-to-end asset tracking system based on the company's IoT platform, for trucking companies and private fleet operators
BlackBerry named a "Leader" in the Forrester Wave for enterprise file sync and share for hybrid solutions
After the quarter, BlackBerry named a "Leader" in the Gartner Magic Quadrant for Enterprise Mobility Management Suites
New Enterprise Partner Program launched globally to stimulate growth and drive profit for partners
Pentagon Force Protection Agency chooses AtHoc to protect Department of Defense leadership, staff, and visitors in times of crisis

Q1 Results

Non-GAAP revenue for the first quarter of fiscal 2017 was $424 million with GAAP revenue of $400 million. The non-GAAP revenue breakdown for the quarter was approximately 39% for software and services, 25% for service access fees (SAF), and 36% for mobility solutions.

BlackBerry had approximately 3,300 enterprise customer wins in the quarter. Approximately 74% of the first quarter software revenue was recurring.

Non-GAAP operating income was $14 million, and non-GAAP net income was $0.00 per share for the first quarter. GAAP net loss for the quarter was $670 million, or $(1.28) per basic share. Basic GAAP net loss reflects a non-cash, long lived asset impairment charge of $501 million, a $57 million goodwill impairment charge, inventory write-down of $41 million, $28 million in amortization of acquired intangibles, stock compensation expense of $12 million, purchase accounting deferred revenue write-down of $24 million, $23 million in restructuring charges, $7 million related to acquisition costs, and a non-cash credit of $24 million for our convertible debt. The impact of these adjustments on GAAP net income and earnings per share is summarized in a table below.

Total cash, cash equivalents, short-term and long-term investments was $2.5 billion as of May 31, 2016. This reflects a use of free cash of $65 million, which includes negative $61 million of cash flow from operations. Cash flow from operations before working capital adjustments was negatively impacted by the inventory impairment and excluding the charges, would have been positive. Excluding $1.25 billion in the face value of our debt, the net cash balance at the end of the quarter was $1.3 billion. Purchase orders with contract manufacturers totaled approximately $150 million at the end of the first quarter, compared to $162 million at the end of the fourth quarter and down from $238 million in the year ago quarter.

"BlackBerry is differentiated by cross-platform market leadership in software, an end-to-end secure mobility platform and a strong financial foundation. Our Q1 results highlight these attributes. Excluding IP licensing, we have more than doubled our software revenue on a year-over-year basis for the second consecutive quarter, driven by our EMM, secure messaging and QNX embedded software businesses. In our Mobility Solutions business, our objective is to achieve operating profitability in the short term," said John Chen, Executive Chairman and CEO, BlackBerry.

"Our current plan calls for continued investments to expand our addressable markets and drive sustainable profitability and revenue growth. For the full fiscal year, we are on track to deliver 30 percent revenue growth in software and services. Based on a more efficient operating model, we expect a non-GAAP EPS loss of around 15 cents, compared to the current consensus of a 33 cent loss. We also expect to generate positive free cash flow for the full year."

Outlook

The Company anticipates maintaining a strong cash position and further reallocating additional resources to go-to-market and product development areas as it continues to execute on its strategy of positive adjusted EBITDA for the full 2017 fiscal year.

(United States dollars, in millions except per share data)

[DaSchwantz]

Meh...not sure how market will take this...as usual, short on revs, unfortunately...everyone still overly focused on device sales. Profit beat is often the main header, but the GAAP number has some interesting stuff in it this time (e.g. a 500m write down of old assets). Software is solid, but hardware was obviously weak and SAF declines are still dragging down any growth. No special deals or partnerships or anything...

UPDATE..Well, it looks like the media headlines are focused on the GAAP loss number when they don't do that with other companies, and are quoting incorrect numbers on revenues on estimates and actuals, all of them biased against BBRY, lol. Never miss a beat to badmouth BBRY it seems!

Posted via CB10

[Corbu]

"long lived asset impairment charge of $501 million"... ?

Non-GAAP operating income was $14 million, and non-GAAP net income was $0.00 per share for the first quarter. GAAP net loss for the quarter was $670 million, or $(1.28) per basic share. Basic GAAP net loss reflects a non-cash, long lived asset impairment charge of $501 million, a $57 million goodwill impairment charge, inventory write-down of $41 million, $28 million in amortization of acquired intangibles, stock compensation expense of $12 million, purchase accounting deferred revenue write-down of $24 million, $23 million in restructuring charges, $7 million related to acquisition costs, and a non-cash credit of $24 million for our convertible debt.

[world traveler and former ceo]

Software and services progressing .. no IP news? Partnerships?
No comments on HW? New devices? Guidance?
Will conference call shed light on this? Will he even commit now to rolling out any new HW? Or will they just stand pat and sell existing inventory?....

Guidance is key.... if he says one more time that they are close to profitable on HW, I will throw my Passport out the window!



Posted via CB10

[bspence87]

As bad as expected. Going to need something big to say at this EC.
No new progression for the company for two quarters now. No parternships, no IP deals, no new products.

[Superfly_FR]

For full-year, company is on track for 30% revenue growth in software and services.
Non-GAAP EPS loss of $0.15 is expected vs. consensus $0.33 loss.
Free cash flow for year is expected to be positive.

Still, the headline remain ... BlackBerry revenue falls more than expected - BlackBerry Ltd. (NASDAQ:BBRY) | Seeking Alpha

Reminder :
Live blog/chat on CB : http://crackberry.com/blackberry-q1-...call-live-blog
Webcast : http://ca.blackberry.com/company/investors/events.html

[Corbu]

BlackBerry loss widens as it books charges - MarketWatch

BlackBerry Ltd.'s recorded a large fiscal first-quarter loss on Thursday on a hefty asset-impairment charge, but results excluding items far outpaced analyst expectations amid improving sales in its software business.

The Canadian smartphone maker said it had a net loss of $670 million, or $1.28 a share, in its fiscal quarter ended May 31. It said items affecting results included a long-lived asset impairment charge of $501 million, a $57 million goodwill impairment charge and a $41 million inventory charge.

Adjusted to exclude items, however, BlackBerry had a small loss of $1 million, or break-even on a per-share basis. That is better than the 8-cent loss analysts polled by Thomson Reuters expected.

BlackBerry said it generated $166 million in software and services revenue, which was up from $153 million in the previous quarter.

Overall revenue totaled $400 million, down from $464 million in the fourth quarter and below the $471 million analysts expected.

Waterloo, Ontario-based BlackBerry has been focusing on mobile-device software and services for governments and businesses to drive growth after falling behind in the consumer smartphone market. In fiscal 2016, the company surpassed its goal of $500 million in software and services sales and expects the segment to generate 30% revenue growth in the current fiscal year.

"Our current plan calls for continued investments to expand our addressable markets and drive sustainable profitability and revenue growth," Chief Executive John Chen said in a release.

For its current fiscal year, BlackBerry guided for an adjusted loss of about 15 cents a share, which is smaller than the Thomson Reuters mean estimate for a loss of 33 cents a share.

The company also said it aims to achieve operating profitability "in the short term" in its mobility solutions operations, which includes smartphones and device software licensing.

At the company's annual meeting on Thursday, Mr. Chen said BlackBerry's top objective for the year is to ensure the mobile-device business remains profitable.

To help win back some handset customers, BlackBerry has focused its device sales on enterprise customers. The company launched the Priv, its first-ever Android-powered smartphone, last November. It also has plans to introduce two new, lower-priced Android phones this fiscal year.

[W Hoa]

Positive

BlackBerry On Track To Deliver 30% Revenue Growth In FY17 Software And Services - NASDAQ.com

BlackBerry Reports Record Software and Services Revenue for Q1 Fiscal 2017 - NASDAQ.com

[masterful]

Positive

BlackBerry On Track To Deliver 30% Revenue Growth In FY17 Software And Services - NASDAQ.com

BlackBerry Reports Record Software and Services Revenue for Q1 Fiscal 2017 - NASDAQ.com

That's the first!


Posted via CB10 on my BlackBerry Passport

[app_Developer]

I see this as positive. Solid growth in software is all I wanted to see.

The phone declines we already knew about. No news there.

[masterful]

3.71% up at the moment in premarket

Posted via CB10 on my BlackBerry Passport