Is Research In Motion Ltd (BBRY) a Pick After the Earnings Report?

Page 1 of 2

Research In Motion Ltd (NASDAQ:BBRY), a company that is on its way to becoming an attractive investment once again, reported its results for the first quarter of 2013. In this article, I will examine the company’s financials to determine whether or not the stock will be an attractive investment.

Financials

Research in Motion Ltd. (BBRY)BlackBerry reported a GAAP loss from continuing operations of $84 million, compared with a GAAP income of $94 million in the previous quarter. The loss was caused by the Venezuela foreign currency restrictions that impacted GAAP earnings and adjusted earnings by approximately $0.10 per share. The adjusted net loss from the continuing operation was $67 million. The adjusted loss excluded the impact of pre-tax charges of $26 million related to the Cost Optimization and Resource Efficiency program.

The company reported a revenue of $3.1 billion, up 15% from the previous quarter. Its North American revenue grew sequentially by 30%, while the Asia-Pacific revenues grew by 35%. The Europe-Middle East-Africa revenue grew by 9%. However, the Latin American revenue declined by 6% due to the Venezuela foreign currency restrictions. The restrictions negatively impacted the service revenues by $72 million. It also negatively impacted the gross margin by 2%.

Research In Motion Ltd (NASDAQ:BBRY) reported that it shipped 6.8 million BlackBerry 10 smartphones, compared with 1 million in the previous quarter. The total of cash, cash equivalents, and short term and long term investments was $3.1 billion, compared with $2.9 billion at the end of the previous quarter, an increase of around $200 million.

Excluding the Venezuela foreign exchange restrictions, Research In Motion Ltd (NASDAQ:BBRY) would have approached a breakeven financial report. Besides, it recorded an improvement in revenue. All its areas of operations – except Latin America – showed growth.

Emerging solutions

BlackBerry also announced that it would continue to focus its efforts on promoting its emerging mobile computing platforms.

“Over the next three quarters, we will be increasing our investments to support the roll-out of the new products and services and to demonstrate that Research In Motion Ltd (NASDAQ:BBRY) has established itself as a leading and vibrant player in next generation mobile computing solutions for both consumer and enterprise customers,” said Thorsten Heins, the CEO of Blackberry.

There are other highlights of the company’s next plans. It will invest resources in the global roll-out of the BlackBerry 10 and evolve BlackBerry Messenger as well as launch other revenue initiatives associated with new services and emerging computing opportunities.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!