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  1. Corbu's Avatar
    BlackBerry Reports Record Software and Services Revenue in Fiscal 2018 Second Quarter

    WATERLOO, ONTARIO--(Marketwired - Sept. 28, 2017) -


    • Software and services revenue increased 26 percent year over year (non-GAAP) and 34 percent year over year (GAAP)
    • Net income of $26 million (non-GAAP) and $19 million (GAAP)


    BlackBerry Limited (NASDAQ:BBRY)(TSX:BB), a global software leader in securing, connecting and mobilizing enterprises, today reported financial results for the three months ended August 31, 2017 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).


    Q2 Highlights


    • Total revenue of $249 million (non-GAAP) and $238 million (GAAP)
    • Record software and services revenue of $196 million (non-GAAP) and $185 million (GAAP)
    • Record gross margin of 76% (non-GAAP) and 74% (GAAP)
    • Operating margin of 12% (non-GAAP) and 9% (GAAP)
    • Operating income of $29 million (non-GAAP) and $22 million (GAAP)
    • EPS of $0.05 (non-GAAP) and fully diluted loss of ($0.07) (GAAP)
    • Adjusted EBITDA of $50 million; positive for fourteenth consecutive quarter
    • Adjusted EBITDA margin of 20%
    • Total cash balance of $2.5 billion at the end of the fiscal second quarter
    • Achieved NIAP certification for SecuSUITE for Government, which brings an end-to-end solution for encrypted voice calls and text messages to the U.S. and Canadian governments; SecuSUITE is the only NIAP-certified voice solution supporting iOS, Android and BlackBerry 10 smartphones and tablets
    • Achieved the highest scores in all six use cases of Gartner's Critical Capabilities for High-Security Mobility Management Report for the second consecutive year
    • After the quarter, BlackBerry Workspaces received the highest scores in two use cases-Workforce Productivity and Centralized Content Protection-of Gartner's Critical Capabilities for Content Collaborations Platform Report
    • After the quarter, announced that Delphi chose BlackBerry QNX to provide the operating system and software infrastructure for Delphi's fully integrated CSLP autonomous driving solution


    Q2 Results


    Non-GAAP revenue for the second quarter of fiscal 2018 was $249 million with GAAP revenue of $238 million. Approximately 79% of second quarter software and services revenue (excluding IP licensing and professional services) was recurring. BlackBerry had approximately 3,300 enterprise customer orders in the quarter.


    Non-GAAP operating income was $29 million, and non-GAAP earnings per share was $0.05. GAAP operating income was $22 million. GAAP net income for the quarter was $19 million, or $0.04 per basic share. Fully diluted GAAP EPS was a loss of ($0.07), which assumes conversion of the convertible debentures based on the "if-converted" method. GAAP net income includes $24 million in amortization of acquired intangibles, $29 million in restructuring charges, a benefit of $70 million of fair value adjustment related to the debentures, and other amounts as summarized in a table below.


    Total cash, cash equivalents, short-term and long-term investments were approximately $2.5 billion as of August 31, 2017. This reflects breakeven free cash flow, which includes cash flow from operations of $3 million, net of capital expenditures of $3 million. The Company also used $17 million to repurchase 1.9 million shares of common stock. Excluding $605 million in the face value of the Company's debt, the net cash balance at the end of the quarter was approximately $1.9 billion. There were no purchase orders with contract manufacturers at the end of the second quarter, or at the end of the first quarter of fiscal 2018, down from $71 million a year ago.


    "I am pleased with our strong execution in Q2. We achieved historical highs in total software and services revenue and gross margin, as well as the highest non-GAAP operating margin in over five years, reflecting our complete transformation to a software company," said John Chen, Executive Chairman and CEO, BlackBerry. "More importantly, we made significant progress on our key growth initiatives. Our enterprise billings grew 19 percent year over year driven by our Unified Endpoint Management platform. We secured important design wins in our automotive business, and we expanded our sales channels for our Radar IOT solution. In our licensing businesses, we have a growing pipeline of opportunities with our BlackBerry Secure software and our IP portfolio."


    "Our position as a market leader in security continues to strengthen," continued Chen. "For the second consecutive year, BlackBerry achieved the highest scores in all six use cases in the Gartner Critical Capabilities for High-Security Mobility Management report. We added four new FedRAMP customers and now have over 300,000 licensed users on our FedRAMP authorized cloud service as of the end of Q2, an increase of 162 percent over Q1."


    "Based on our progress thus far in FY18, we are on track to achieve software and services revenue growth in the range of 10 percent to 15 percent and profitability for the full year."


    Outlook


    The Company is providing the following updated outlook for fiscal 2018:


    • Total non-GAAP revenue in the range of $920 million to $950 million
    • Total non-GAAP software and services revenue growth in the range of 10 percent to 15 percent
    • Positive non-GAAP EPS for the full year
    • Positive free cash flow for the full year, before taking into account the net impact of the benefit of the Qualcomm arbitration award and costs related to restructuring and transition from the hardware business.


    Reconciliation of GAAP revenue, gross margin, gross margin percentage, income before income taxes, net income and basic earnings per share to Non-GAAP revenue, gross margin, gross margin percentage, income before income taxes, net income and basic earnings per share:
    09-28-17 06:05 AM
  2. rampagingpanda's Avatar
    https://seekingalpha.com/pr/16953625...second-quarter

    It's looking good

    Edit: Corbu is too fast
    Corbu, morganplus8, rarsen and 1 others like this.
    09-28-17 06:05 AM
  3. rampagingpanda's Avatar
    Outlook

    The Company is providing the following updated outlook for fiscal 2018:


    Total non-GAAP revenue in the range of $920 million to $950 million
    Total non-GAAP software and services revenue growth in the range of 10 percent to 15 percent
    Positive non-GAAP EPS for the full year
    Positive free cash flow for the full year, before taking into account the net impact of the benefit of the Qualcomm arbitration award and costs related to restructuring and transition from the hardware business.


    I think this is the first time we've seen such a detailed full-year guidance.

    Finally some... confidence!
    09-28-17 06:23 AM
  4. Corbu's Avatar
    09-28-17 06:24 AM
  5. world traveler and former ceo's Avatar
    BlackBerry posts profit of $19-million, 4 cents a share basic, revenue of $238-million
    Looks like beat on all accounts.. well played CEO Chen

    Posted via CB10
    09-28-17 06:27 AM
  6. Corbu's Avatar
    BlackBerry Signs its First BlackBerry Secure Licensing Deal

    WATERLOO, ONTARIO--(Marketwired - Sept. 28, 2017) - BlackBerry Limited (NASDAQ:BBRY) (TSX:BB) today announced the company has signed its first BlackBerry Secure licensing deal with Yangzhou New Telecom Science and Technology Company Ltd. (NTD), a Yangzhou and Beijing based electronics design firm that develops and manufactures smartphones and IoT devices.

    As part of BlackBerry's multi-dimensional licensing strategy, this licensing agreement means NTD will develop devices that will be branded by OEMs, carriers and local smartphone brands and marketed as "BlackBerry Secure" due to the use of BlackBerry's security software. This builds on the agreements with BB Merah Putih, Optemius and TCL, which enable those companies to bring to market BlackBerry-branded devices such as the award-winning BlackBerry KEYone smartphone.


    "This marks the next phase of our licensing strategy, which is focused on enabling vendors to bring to market mobile communication devices that aren't just secure, but BlackBerry Secure," said Alex Thurber, senior vice president and general manager of Mobility Solutions, BlackBerry. "We're thrilled to partner with NTD and Equiis and look forward to extending this dynamic relationship to include more carriers and a range of devices."


    The first product from this partnership will be an all-touch smartphone, which will use BlackBerry's suite of device software security technologies and secure enterprise collaboration technology from Equiis Technologies Switzerland AG of Zurich. It is expected to ship early in 2018. Customers and markets for the smartphone will be announced at a later date.


    "With hacks and other malicious threats directed towards all connected devices on the rise, we're proud to be able to offer our customers BlackBerry Secure smartphones," said Eugene Li, CEO of NTD. "Providing this level of security will give our customers peace of mind while communicating for business or just in their everyday lives."


    "Working with BlackBerry and NTD to integrate the BlackBerry Secure platform with the Equiis Secure Enterprise Collaboration Suite offers our ecosystem of carriers and system integrators a best-in-class offering for their enterprise clients," said Derek Roga, CEO of Equiis Technologies Switzerland AG. "This strategic partnership elevates secure end-to-end communication and collaboration to an unprecedented level."


    BlackBerry Secure is the most secure and comprehensive platform to connect people, devices, processes and systems. A BlackBerry Secure license provides smartphone, IOT, and other product manufacturers with a deeply embedded security solution that is comprised of BlackBerry's proprietary software and applications. Devices built with components from the BlackBerry Secure software platform will have best-in-class security that helps safeguard end-user privacy and protects enterprises from attackers looking to exploit device vulnerabilities.


    For more information about how a BlackBerry Secure license can bring world class security to the products you offer, contact bbsecure@blackberry.com. Additional information about BlackBerry smartphone security can be found here.

    Equiis website:
    https://www.equiis.com/
    Last edited by Corbu; 09-28-17 at 06:49 AM. Reason: Added Equiis website
    09-28-17 06:36 AM
  7. world traveler and former ceo's Avatar
    They just got into the market, so whats you point? If the phones cost is above $99.00, there isn't much millions in the calculation.
    What's the point? Read the article

    Posted via CB10
    09-28-17 06:39 AM
  8. Corbu's Avatar
    Titanium Transportation Group Goes All In with BlackBerry Radar

    WATERLOO, ONTARIO and BOLTON, ONTARIO--(Marketwired - Sept. 28, 2017) - BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) and Titanium Transportation Group Inc. (TSX VENTURE:TTR) announced today that Titanium has started deploying Radar-L across its fleet of flatbeds. With the addition of Radar-L, BlackBerry's new asset and fleet tracking solution, designed for rapid installation on flatbeds, chassis, containers, heavy machinery, and other valuable transportation or non-powered assets, Titanium's entire fleet now utilizes the BlackBerry Radar platform.

    This agreement builds upon Titanium's first deal with BlackBerry, which was signed in December 2016 and included the use of Radar-M devices on approximately 1,200 trailers.


    "We like to say that we take a "youthful" approach to an "old" industry. We embrace technology and welcome a modern trailer tracking solution to boost efficiencies and increase our fleet utilization," said Ted Daniel, CEO of Titanium. "We have already seen significant business benefits with our current implementation of BlackBerry Radar, and expect to see bigger improvements in fleet utilization and operational efficiencies now that our entire fleet is on the BlackBerry Radar platform."


    "Titanium is an innovative transportation company that recognizes how connected devices and the data they generate can help transform businesses," said Philip Poulidis, SVP and GM of Radar, BlackBerry. "Titanium was an early adopter of our BlackBerry Radar solution, and we are privileged that they have entrusted their entire fleet of trailers and commercial vehicles to the BlackBerry Radar portfolio."


    BlackBerry Radar provides real-time information such as load status, temperature, humidity and pressure information, among many other data points, on a single intuitive on-line dashboard. It collects up to 100x more data than conventional GPS-based track and trace solutions, and uses this information to build simple to understand and powerful interactive reports designed specifically for managing fleet. All data is stored securely on a cloud platform, which maintains the privacy of the user information at all times.
    dusdal, bbjdog, sidhuk and 9 others like this.
    09-28-17 07:28 AM
  9. kellyweng88's Avatar
    lookin really good today guys. hoping it will be sustained this time! Would love to see us stay above 10 going forward

    What do the you CB veterans think of this quarter's earnings? What are your thoughts?
    09-28-17 08:49 AM
  10. Jahcure's Avatar
    Beautiful day, I wonder what goldman sachs will say now
    09-28-17 08:51 AM
  11. fanBBRY's Avatar
    Remember to breathe !!!
    Corbu and rarsen like this.
    09-28-17 08:54 AM
  12. kellyweng88's Avatar
    we're doing well today, but let's not forget just a few short months ago we were much higher than this. Let's hope we slowly regain all that lost ground
    Corbu likes this.
    09-28-17 09:01 AM
  13. Corbu's Avatar
    https://www.bloomberg.com/news/artic...revenue-growth
    BlackBerry Shares Jump as Software Revenue Picks Up Steam


    https://www.bloomberg.com/news/artic...ion-of-android
    BlackBerry Signs First Licensing Deal for its Version of Android

    Four carriers from Asia, Africa and Latin America, which BlackBerry declined to name, have already signed up to buy NTD devices with the BlackBerry software.
    09-28-17 09:04 AM
  14. app_Developer's Avatar
    Wow, I was really surprised by this. Nicely done, BB!
    Corbu, W Hoa, La Emperor and 3 others like this.
    09-28-17 09:15 AM
  15. Corbu's Avatar
    Pour nos amis Français :
    https://www.lesechos.fr/tech-medias/...ls-2117983.php
    BlackBerry s’envole en Bourse grâce à ses logiciels

    09-28-17 09:37 AM
  16. Corbu's Avatar
    Andrew McCreath:
    McCreath: Key for BlackBerry to move beyond infotainment in its car tech ambitions - Video - BNN

    McCreath: Key for BlackBerry to move beyond infotainment in its car tech ambitions

    BNN Commentator Andrew McCreath discusses BlackBerry's latest quarterly results, which show that the company beat top- and bottom-line expectations. He weighs in on the company's automotive goals and whether they're obtainable. He also gives his outlook for Brookfield Asset Management.
    09-28-17 10:03 AM
  17. dusdal's Avatar
    Given that this is the best Q results and the best guidance we've had in years, I can't think of any reasons we shouldn't bypass our previous 52 week high here.
    09-28-17 10:15 AM
  18. masterful's Avatar
    I am eager to hear your comments Morgan 😊
    09-28-17 10:24 AM
  19. muhlan001's Avatar
    FINALLY! Execution is there! Several quarters too late, but I am still a happy camper right now.
    09-28-17 10:26 AM
  20. cklberry's Avatar
    Another satisfied shareholder here. However, is anyone concerned at the relatively flat UEM revenue? John Chen has emphasized bookings in the past quarters' ERs and that is up 19% this qtr. How long do bookings turn into revenue?
    09-28-17 10:35 AM
  21. farmwersteve's Avatar
    I missed the call, how is toward guidance?
    09-28-17 10:39 AM
  22. Corbu's Avatar
    JC on CNBC:
    https://www.cnbc.com/video/2017/09/2...a-company.html

    Blackberry CEO John Chen: Comfortable where we are as a...

    35 Mins Ago
    Blackberry CEO John Chen discusses his company's quarterly earnings and the pivot away from hardware.
    09-28-17 10:49 AM
  23. dusdal's Avatar
    JC on CNBC:
    https://www.cnbc.com/video/2017/09/2...a-company.html

    Blackberry CEO John Chen: Comfortable where we are as a...

    [FONT="]35 Mins Ago[/FONT]
    Blackberry CEO John Chen discusses his company's quarterly earnings and the pivot away from hardware.
    Haha, man this guy is so conservative.

    As someone who wants things to skyrocket I hate it. But as a human I love it.
    09-28-17 11:06 AM
  24. _dimi_'s Avatar
    Another satisfied shareholder here. However, is anyone concerned at the relatively flat UEM revenue? John Chen has emphasized bookings in the past quarters' ERs and that is up 19% this qtr. How long do bookings turn into revenue?
    Hopefully they will start eating some of MOBL's cake soon...

    Posted via CB10
    morganplus8, rarsen, Corbu and 1 others like this.
    09-28-17 11:21 AM
  25. La Emperor's Avatar
    The narrative is finally changing tunes. Congrats to all who held long . A short congratulations for now, because Chen still has a lot of work ahead. Cheers everyone.

    "In other words, it's time to get the image of people in the late '90s frantically typing on their CrackBerries out of your head. That's BlackBerry's past. Software and services that BlackBerry makes for other companies is its future. And it looks like a bright one. "

    Is BlackBerry making a comeback? - Sep. 28, 2017
    Last edited by La Emperor; 09-28-17 at 11:47 AM.
    Corbu, bbjdog, muhlan001 and 3 others like this.
    09-28-17 11:33 AM
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