Tonight is probably going to be a big day for BlackBerry. They will be announcing announcing their First Quarter Fiscal 2014 earnings just before the market opens at 8AM EST on the other side of the world. Yes, that is why the analysts seem to be all over the place in terms of what BlackBerry will actually announce. This will be the first full quarter of BB10 sales so it should be pretty interesting. On the other hand, BlackBerry is just starting to roll out its BlackBerry Q5, their lower end device for cheaper end of the market, in an attempt to try and take over the position of the older Curve models. Nonetheless, this is sure to be an exciting announcement. Hopefully BlackBerry drops some deadweights and show all of us a promising expectation for next quarter.
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Some interesting estimated figures:
Revenues: Consensus estimates are for revenues of $3.438 billion, towards the midpoint of the projected range of $2.721 billion – $4.31 billion. Revenues have beaten analyst estimates just 3 out of the last 8 quarters.
BlackBerry 10 Unit Sales: This will be the first quarterly report to have a meaningful BlackBerry 10 measure. Analysts estimates appear to be rather consistent (source: StreetInsider.com):
Goldman Sachs: 3.5 million units
RBC Capital Markets: 2.75 million
Wells Fargo: 3.5 million units
Recently:
06/24/2013: Goldman Sachs reiterated its Neutral rating and $17 price target on BlackBerry, according to a post on StreetInsider. They believe that the BlackBerry Q10 sales will be solid, which were unavailable during the May quarter, leading to a $0.16 earnings per share estimate, which is above consensus.
06/20: According to a post on StreetInsider, Jefferies reiterated its Buy rating and $22 price target. They cite the strong results from two of BlackBerry’s primary manufacturing partners, Jabil Circuits (JBL) and Wistron Corporation. Jefferies checks of carrier stores also showed that many stores had just a few devices in their inventory or were completely sold out.
06/19: Sanford C. Bernstein downgraded BlackBerry to Underperform, and lowered its price target to $10 from $15, according to a post on StreetInsider. Analysts believe that the market has priced in the BlackBerry 10 launch.
