BlackBerry Limited (BB) Releases Q3 2026 Earnings: Revenue Flat, EPS Slumps as Cash and Liquidity Improve

BlackBerry Limited (BB) — Q3 2026 Earnings

BlackBerry reported quarterly revenue essentially flat year-over-year, with modest declines in profit metrics while cash and liquidity improved notably.

Total revenue was $141.8 million, down 0.84% year-over-year.

Gross profit came in at $109.9 million, a decline of 1.88% year-over-year.

Operating profit fell to $11.9 million, down 37.37% year-over-year.

Net income attributable to common shareholders was $13.7 million, a decline of 224.55% year-over-year.

Diluted earnings per share were $0.02, down 200.0% year-over-year.

Profitability ratios (approximate):

Gross margin roughly 77.6% (gross profit / revenue).

Operating margin roughly 8.4% (operating profit / revenue).

Net margin roughly 9.7% (net income / revenue).

Cash flow and balance sheet highlights:

Cash from operating activities improved to $18.3 million, up 200.0% year-over-year.

Purchases of property, plant and equipment were -$0.9 million, down 18.18% year-over-year.

Cash and cash equivalents increased to $270.3 million, up 43.02% year-over-year.

Total liabilities declined to $477.3 million, down 18.27% year-over-year.

Additional operational note:

Cost of sales was $31.9 million, up 2.9% year-over-year, reflecting a slight rise in direct costs despite stable revenues.

Overall, BlackBerry (BB) delivered stable top-line results with pressure on operating and net profits, while strengthening cash balances and reducing liabilities — a mix of margin headwinds and improved liquidity.

BlackBerry Limited Insider Trading Activity

BlackBerry Limited insiders have traded $BB stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here’s a breakdown of recent trading of $BB stock by insiders over the last 6 months:

PHILIP S. KURTZ (CLO & Corp. Secretary) has made 0 purchases and 5 sales selling 68,796 shares for an estimated $341,453.
JOHN JOSEPH GIAMATTEO (CEO & President, Cybersecurity) has made 0 purchases and 2 sales selling 55,341 shares for an estimated $247,576.
MATTIAS ERIKSSON (President of IoT) has made 0 purchases and 2 sales selling 11,548 shares for an estimated $51,661.
TIM FOOTE (Chief Financial Officer) has made 0 purchases and 2 sales selling 6,161 shares for an estimated $27,562.
JENNIFER ARMSTRONG-OWEN (Sr VP & Chief People Officer) has made 0 purchases and 2 sales selling 5,136 shares for an estimated $22,976.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

BlackBerry Limited Hedge Fund Activity

We have seen 94 institutional investors add shares of BlackBerry Limited stock to their portfolio, and 118 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FIFTHDELTA LTD added 12,316,890 shares (+348.3%) to their portfolio in Q3 2025, for an estimated $60,106,423
D. E. SHAW & CO., INC. removed 11,385,723 shares (-90.6%) from their portfolio in Q3 2025, for an estimated $55,562,328
RENAISSANCE TECHNOLOGIES LLC removed 5,742,200 shares (-63.1%) from their portfolio in Q3 2025, for an estimated $28,021,936
FAIRFAX FINANCIAL HOLDINGS LTD/ CAN removed 5,389,380 shares (-13.2%) from their portfolio in Q3 2025, for an estimated $26,300,174
CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. removed 4,660,058 shares (-21.4%) from their portfolio in Q3 2025, for an estimated $22,741,083
CITADEL ADVISORS LLC added 3,516,904 shares (+90.9%) to their portfolio in Q3 2025, for an estimated $17,162,491
MARSHALL WACE, LLP removed 2,936,569 shares (-33.1%) from their portfolio in Q3 2025, for an estimated $14,330,456

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

BlackBerry Limited Price Targets

Multiple analysts have issued price targets for $BB recently. We have seen 5 analysts offer price targets for $BB in the last 6 months, with a median target of $5.0.

Here are some recent targets:

Daniel Chan from TD Cowen set a target price of $5.0 on 10/03/2025
Daniel Chan from TD Securities set a target price of $5.0 on 10/03/2025
Paul Treiber from RBC Capital set a target price of $4.5 on 09/26/2025
Luke Junk from Baird set a target price of $5.5 on 09/26/2025
Kingsley Crane from Canaccord Genuity set a target price of $4.6 on 09/26/2025