BlackBerry’s Second Quarter Surprised to the Upside; Maintaining FVE of $9.50; Shares Fairly Valued
BlackBerry reported better-than-expected fiscal second quarter results with strength in licensing revenue partially offset by slow growth in enterprise software and an expected decline in mobility and service access fee, or SAF. Gross margin widened for the second consecutive quarter, helped by solid top-line growth in overall software and services. However, the lack of growth in enterprise software revenue, which makes up more than 40% of the software and services segment, is indicative of what...BlackBerry is engaged in the sale of smartphones and enterprise software and services. Co.'s operating unit organizational structure consists of the Devices business, Enterprise Solutions and Services (which includes Professional Cybersecurity Services), BlackBerry Technology Solutions, and Messaging. Co. also operates in the embedded market through licensing of its QNX software products and providing services to support customers in developing their products. Co.'s portfolio of products and services is focused on serving enterprise customers, particularly in regulated industries and select vertical markets, including government, financial services, legal and healthcare.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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