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BlackBerry Q2 Earnings Preview: What to Watch

BlackBerry (BB), a provider of intelligent security software and services to businesses and governments, will report its Q2 earnings on September 22 after markets close.

Over the past year, the stock has almost doubled in value and is currently trading over C$12. Strong earnings could boost BB shares, so let’s have a look at what analysts are expecting.

Analysts on average expect BlackBerry to post a loss of $0.07 per share in Q2 2022, compared to earnings of $0.11 in Q2 2021. The estimated revenue is $163.5 million, representing a decrease of 38.5% from the prior-year quarter ($266 million).

BlackBerry missed earnings estimates in the past nine quarters and could miss estimates again in the coming quarter. (See BlackBerry stock charts on TipRanks)

Points to watch

During the quarter, BlackBerry entered into many new collaborations and launched new solutions. These developments should have had a positive impact on the company’s revenue.

BlackBerry has notably partnered with Nobo Technologies to power Great Wall Motors’ next-generation SUV, the Haval H6S, with an advanced digital cockpit controller platform built on the BlackBerry QNX Neutrino real-time operating system, and the QNX hypervisor.

The company launched the BlackBerry IVY Advisory Council to drive high-impact technology use cases and solutions that leverage on-board data on the back of the BlackBerry IVY platform.

BlackBerry also unveiled its flagship software composition analysis tool, BlackBerry Jarvis 2.0, to address growing cybersecurity threats among multi-tiered software supply chains in the automotive, medical and aerospace industries.

Last week, TD Securities analyst Daniel Chan kept a Sell rating on BB with a C$8.50 target price. This implies 29.2% downside potential.

Overall, BB scores a Moderate Sell rating among Wall Street analysts, based on one Hold and three Sells. The average BlackBerry price target of C$11.24 implies 7.9% downside potential to current levels.

TipRanks’ Smart Score

BB scores a 2 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns are likely to underperform the overall market.

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