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BLACKBERRY EARNINGS ESTIMATED LOWERED

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BlackBerry on STOCK.com

BLACKBERRY EARNINGS ESTIMATED LOWERED

Jan 13 2015, 1.15pm GMT

STOCK.com

New to STOCK.com, BlackBerry will release 2014 Q4 earnings on March 27, 2015.

As Blackberry enters the Internet of Things, Wells Fargo analysts reduce the tech company’s earnings forecast last week revising down fourth quarter estimates.

The new estimates are as follows:

  • Revenue is expected in at $721.1 million from a previous forecast of $783.8, which is also below the consensus estimate of $848 million
  • Loss of $0.05 per share versus prior estimates of a $0.03 per share loss

Shares are currently trading at $10.10 after recent highs of $11.09 in the New Year.

Last Wednesday 7 January, Blackberry launched its comprehensive Internet of Things (IoT) platform, initially targeting the automotive and asset tracking industries, though on the same day Blackberry and NantHealth, a cloud-based information technology provider that combines science and big data to transform healthcare, announced the launch of the next generation of the NantHealth HBox, a portable medical device that captures and transmits secure medical data between the patient, doctor and hospital.

Blackberry reported the new IoT initiatives saying, ‘The BlackBerry® IoT Platform will leverage the company’s extensive technology portfolio, extending its best-in-class security and reliability to emerging IoT applications.’

Blackberry also announced that BBM™ (BlackBerry Messenger) will be available on wearable technologies for a wide range of Android Wear™ smartwatches to enable BBM users to communicate faster and more discreetly on-the-go. According to research firm Canalys1, annual smartwatch shipments are estimated to grow to more than 28 million units by 2015 and more than 60 million by 2017, and Blackberry are looking for a share of this lucrative market.

As a heavy investor in secure technology, the latest Sony and Twitter hacks will bring attention to Blackberry’s reputation for its secure operating system.

In December, Blackberry reported financial results for the three months ending November 29, 2014, with revenue for the third quarter of fiscal 2015 at $793 million, down from $1,193 million in the same period in 2013. Operating profit was $16 million, up from $2 million last quarter. Executive Chairman and CEO John Chen, formerly from Wells Fargo bank said in the quarterly statement, “We achieved a key milestone in our eight quarter plan with positive cash flow. We also attained another important milestone in the release of our new enterprise software products and devices. Our focus now turns to expanding our distribution and driving revenue growth.”

Wells Fargo analyst Maynard Um is reported to say that he is not ‘negative’ about the stock but that shares will reach bottom but gain advantage through scale and security in 2015.

MT4 chart: BlackBerry

BlackBerry on STOCK.com

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