GAAP Stories September 26, 2014

BlackBerry down but not out as it posts lower-than-expected losses

BlackBerry may be finding it tough to compete in a world now dominated by Android and iOS, but it isn’t finished yet. The company has just announced a net loss of $207M in Q2, significantly lower than had been expected and far lower than the $965M it lost in the same quarter last year.

The company is pinning its hopes on its new square-screened BlackBerry Passport phablet, and says that it anticipates breaking even by the end of the 2015 fiscal year. CNBC noted that BlackBerry CEO John Chen said back in April that it could return to profit on sales as low as 10M handsets a year … 

GAAP Stories October 18, 2012

It looks like Google’s Q3 earnings have been released early with The Wall Street Journal reporting Google posted revenue of $14.1 billion and a net of $2.18 billion. A summary of the company’s earnings report from a U.S. Securities and Exchange Commission filing is below. In the report, we see Motorola accounted for 18 percent of consolidated revenues. It brought in $2.58 billion, while reporting a $527 million operating loss. Of that $527 million operating loss, $505 million comes from Motorola’s mobile segment and $22 million from its home business. Google reported cash, cash equivalents, and short-term marketable securities at $45.7 billion as of Sept. 30 and operating income of $3.26 billion.

As highlighted in the screenshot above, Google is down almost 10 percent following the news. Google made a statement on what happened with the early filing (via Business Insider):

“Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT.”

Google is scheduled to announce earnings later today at 4:30 p.m. EST.

Q3 Financial Summary Google Inc. reported consolidated revenues of $14.10 billion for the quarter ended September 30, 2012, an increase of 45% compared to the third quarter of 2011. Google Inc. reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the third quarter of 2012, TAC totaled $2.77 billion, or 26% of advertising revenues. Operating income, operating margin, net income, and earnings per share (EPS) are reported on a GAAP and non-GAAP basis. The non-GAAP measures, as well as free cash flow, an alternative non-GAAP measure of liquidity, are described below and are reconciled to the corresponding GAAP measures at the end of this release.

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