Canadian handset manufacturer BlackBerry Limited (BBRY – Analyst Report), reported third-quarter fiscal 2015 financial results wherein the bottom line outpaced the Zacks Consensus Estimate but the top line missed the same by a huge margin. 

Third Quarter Results in Detail 

GAAP loss from continuing operations in the third quarter of fiscal 2015 came in at $148 million or a loss of 28 cents per share compared with $4,401 million or loss of $8.37 per share in the year-ago quarter. However, adjusted net income per share of a penny was significantly higher than the Zacks Consensus Estimate of a loss of 6 cents per share.  

Total revenue in the reported quarter stood at $793 million against $1,193 million in the year-ago period. The top line also lagged the Zacks Consensus Estimate of $928 million. Segment-wise, Hardware revenues were approximately 46%, Services revenues were 46% and the remaining 8% came from Software and other sources.

Geographically, North America contributed 26.9% of the total revenue while Europe, the Middle East and Africa accounted for 46.1% of the figure. Similarly, Latin America and Asia Pacific generated 10.6% and 16.4% of the total revenue in the reported quarter, respectively. 

In the third quarter, BlackBerry sold 1.9 million smartphones. Quarterly operating loss stood at $139 million compared with $5,025 million in the year-ago quarter. 

At the end of the first nine months of fiscal 2015, BlackBerry generated $603 million of cash from operations against $405 million in the same period last year. Free cash flow, in the reported quarter, stood at $532 million compared with $145 million in the year-ago quarter. Cash and marketable securities were $2,771 million as against $2,529 million at the end of fiscal 2013. Long-term debt during the quarter totaled $1,657 million versus $1,627 million in the prior-year quarter. 

BlackBerry currently has a Zacks Rank #3 (Hold).

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