BlackBerry hit with Q3 loss, but still better than expected

Still, BlackBerry left out the number of smartphones it sold in the quarter, a number investors had been looking for to measure the impact of its new Android phone on sales. The average 12-month price target among analysts that have updated their coverage on the stock in the a year ago is $8.18.

RBC Capital believes that the negative sentiment on BlackBerry stock is a short-term phenomenon. The Company’s technology also enables an array of third party developers and manufacturers to enhance their products and services through software development kits, wireless connectivity to data and third-party support programs. Raymond James upgraded the stock on December 7 to “Strong Buy” rating.

Chief executive John Chen says the company saw higher revenue across all areas of its focus, including software, and it will increase spending on the launch of the newest BlackBerry smartphone – the first with an Android operating system. Canaccord Genuity reiterated a hold rating and set a $8.00 price target on shares of BlackBerry in a research note on Monday, September 21st. As such, tomorrow’s announcements is even more consequential. Losses, adjusted for non-recurring costs and amortization costs, came to 3 cents per share.

Total cash, cash equivalents, and short-term and long-term investment stood at $2.71 billion. It has missed its revenue forecasts for five quarters in a row.

Credit Suisse reaffirmed their sell rating on shares of BlackBerry Ltd (NASDAQ:BBRY) in a research note published on Thursday, Analyst Ratings Network.com reports.

Analysts, on average, expected the company to post a loss of 14 cents a share on revenue of $489 million, according to Thomson Reuters I/B/E/S. During the same period in the prior year, the firm posted ($0.02) earnings per share. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term.

BlackBerry Ltd.’s latest quarterly results beat expectations, and the company showed progress in its strategy of expanding software and services sales. MKM Partners restated a “hold” rating and issued a $8.00 target price (down previously from $8.50) on shares of BlackBerry in a research note on Friday, September 4th. It’s a loss, but the company did better than Wall Street was expecting.