Economy

BlackBerry Q2 profit rises on back of software sales

BlackBerry Q2 profit rises on back of software sales”

The Waterloo-based company says overall revenue for the three months ended August 31 was US$238 million, down from $334 million in last year's second quarter but up $3 million from the previous quarter ended May 31. Wall Street analysts were expecting the Canada-based company to lose 3 cents per share on revenue of $219.9 million. On a GAAP basis, BlackBerry reported a loss of 7 cents a share.

BlackBerry reported that it earned 5 cents per share in the second quarter on revenue of $238 million.

The Canadian company, once known for its dominance of the smartphone market, also boasted of what is now record software and services revenue of $185-million.

Analysts had on average expected BlackBerry to break even on revenue of $220 million (roughly Rs. 1,440 crores), excluding items, according to Thomson Reuters I/B/E/S.

BlackBerry Limited (BBRY, BB.TO), a mobile-native security software and services company, Thursday said it is on track to achieve profitability for the full year 2018 and software and services revenue growth in the range of 10 percent to 15 percent.

BlackBerry CEO John Chen says the company's operating margin has improved, reflecting the transformation to a software company.



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