BlackBerry shares soar 5% after reporting Q2 2017 earnings and the end of hardware manufacturing

BlackBerry shares soar 5% after reporting Q2 2017 earnings and the end of hardware manufacturing
Wall Street got some of the news it was expecting from BlackBerry today. Last week, we passed along a report from investment blog The Motley Fool, which correctly predicted that the manufacturer would close its hardware division on September 28th. Leaving hardware to others was good enough news to send BlackBerry's shares soaring nearly 5% this morning to $8.36.

BlackBerry also reported its fiscal second quarter 2017 earnings and you can see why it is dropping hardware manufacturing. GAAP software and services revenue reached $334 million for the three month period, rising a strong 89% year-over-year. Non-GAAP revenue for the pair hit $352 million, a year-over-year gain of 111%. 81% of this revenue is recurring, and the company reported 3,000 enterprise customer wins for the three month period ended August 31st.

Hardware reported an $8 million operating loss for the quarter. Overall, Non-GAAP operating earnings came to $16 million resulting in a breakeven earnings per share figure. GAAP operating income showed a loss of $355 million. As usual, BlackBerry has a large amount of  cash, cash equivalents, short-term and long-term investments ($2.5 billion) socked away on the balance sheet as of the end of the quarter.

BlackBerry has revised upward its full fiscal year non-GAAP EPS estimate. Previously, the company was forecasting a loss of 15 cents a share. It now expects to report in a range of breakeven to a loss of five cents a share for fiscal 2017.


source: MarketWired

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153 Comments

1. Rydsmith unregistered

But I thought it was all rumors and not going to happen. Just like adopting Android was nothing but a rumor and "stupid." Guess I need another genius who isn't as mean to give me insights into the obvious.

2. Mxyzptlk unregistered

I agree.

4. meanestgenius

Posts: 21769; Member since: May 28, 2014

What's that smell of BS in the air? Oh, it's your comment. Furthermore I never said that they would never leave hardware. I've always said that it's best for them to do so, and I can provide links to back it up, not that a racist like you is worth the time to post the links.

5. PenTiltoKet

Posts: 552; Member since: May 18, 2016

Your link worth nothing. You defense BB10, insult Android, you back your claim with link, but BB still close the BB10 and moved on You defense BB android pricing, you back your claim with link, but BB still close the hardware division. Your words have no value. Your done. Fired.

7. meanestgenius

Posts: 21769; Member since: May 28, 2014

Lmao! You're severely bumburned because I've discredited you and proved that you're nothing but a multi-account troll. Here, you can have some aloe and a cool, damp cloth to ease the pain of humiliation that I've laid on you on several different occasions.

17. meanestgenius

Posts: 21769; Member since: May 28, 2014

Bwahahahahahahahahahahahahahahhahahahahahahahahaha​hahahahahahahahahahahahahahahaha!!!!!!!! I needed that laugh. Thanks! You can assume I'm whoever you want until you're blue in the face, that doesn't make it any closer to the truth. I've already proven that you have faux accounts, and by your own words, you're a troll. Nice try. Better luck next time.

20. Mxyzptlk unregistered

I don't need to assume because you know it's you. Don't give me your bullsh*bleep* saying otherwise.

22. meanestgenius

Posts: 21769; Member since: May 28, 2014

Cut the BS. Everyone is not like you and pentity creating faux and multiple accounts.

90. Mxyzptlk unregistered

OK alphageek.

96. meanestgenius

Posts: 21769; Member since: May 28, 2014

Ok JakeLee.

48. PenTiltoKet

Posts: 552; Member since: May 18, 2016

Your wordsmeans nothing. You were a big troll.

54. meanestgenius

Posts: 21769; Member since: May 28, 2014

Your words mean even less. You're a bigger troll.

24. BobbyDigital

Posts: 2124; Member since: May 29, 2014

You sound retarded. They're not out of hardware. They're outsourcing. Sony outsourced to HTC for yesrs. BB10 has simply been removed from the consumer market. It's a I'll thriving in Enterprise and Business. And why do you care being that you've never had nor will ever have a BlackBerry handset.

49. PenTiltoKet

Posts: 552; Member since: May 18, 2016

Mr. Cheerleader. Welcome to reality

55. meanestgenius

Posts: 21769; Member since: May 28, 2014

Says the guy that plays cheerleader to mxy. Pot, meet kettle.

91. Mxyzptlk unregistered

Aka, you just made me your little b*bleep.*

99. meanestgenius

Posts: 21769; Member since: May 28, 2014

I know I made you my little btch. I always do.

117. BobbyDigital

Posts: 2124; Member since: May 29, 2014

Says Mxy's head cheer leader. Get a life pedophile.

37. xq10xa

Posts: 808; Member since: Dec 07, 2010

Guy has denied every rumor that has come true since like way back. Refusing to see change and just sticking his head in the sand. Just leave him alone. He has got all day long to sit on this page and hit refresh to troll around with any one who disagrees. And I do mean alllllllllll day.

38. meanestgenius

Posts: 21769; Member since: May 28, 2014

Prove that I denied BlackBerry would let go of hardware development with links or take your BS elsewhere along with your zero credibility rating. And if I've got all day, what does that say about your idiot buddy Mxy, who is always the one I'm going at it with all day, like you say?

50. PenTiltoKet

Posts: 552; Member since: May 18, 2016

I think he's crying in front of the computer. He's in big denial stage now

56. meanestgenius

Posts: 21769; Member since: May 28, 2014

Even if I was, at least it's MY computer. You only have what mommy and daddy can give you, and that ain't much. I can tell.

60. xq10xa

Posts: 808; Member since: Dec 07, 2010

Hell be here tomorrow too. The amount of responses. The amount of words per paragraph. Can you imagine having that amount of time to waste over some phone company? Sweet jesus

61. meanestgenius

Posts: 21769; Member since: May 28, 2014

And can you imagine you being an idiot and continually coming back here to read what I post over some phone company? And to post about it, too? Who's the real fool here? That's a rhetorical question, by the way. You're the fool.

89. Mxyzptlk unregistered

Lol, you just verbally trashed him. He will continue on until someone gets tired of it. This is all he has.

101. meanestgenius

Posts: 21769; Member since: May 28, 2014

Says the guy that I thoroughly verbally trash every time he goes against me and keeps posting on BlackBerry articles just as much as I do. The hypocrisy runs deeper in you than your "girlfriend".

9. Dr.Phil

Posts: 2340; Member since: Feb 14, 2011

To be fair, Blackberry ending their hardware division was rumored for years (going all the way back to 2014 and even before then). Each time they said it was going to happen, it didn't. Also, it's misleading to say "Blackberry is ending their hardware manufacturing" since they haven't exactly had any hardware manufacturing in years. The last device being the Blackberry Passport, with every subsequent phone being made by another company. All that has really happened is Blackberry has just decided to no longer design their hardware or work with a manufacturer to decide what should go into their devices. They're now just saying "it's up to the manufacturers to decide what goes into these devices". Which, if you think about it, that's what has mainly been going on with the DTEK50 being released.

51. PenTiltoKet

Posts: 552; Member since: May 18, 2016

BB is dead. This a big seal

57. meanestgenius

Posts: 21769; Member since: May 28, 2014

It must really burn your bum that BlackBerry isn't dead, no matter how much you want them to be.

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