BlackBerry shares surge as profit rises on software strength

BlackBerry shares surge as profit rises on software strength”

That said, there was much for BlackBerry to celebrate: 79 per cent of its of its software and services revenue was recurring, and it fielded approximately 3300 enterprise customer orders during the period ending August 31, 2017, boding well for the company's future, CEO John Chen told shareholders.

BlackBerry Ltd reported stronger-than-expected quarterly results on record sales at its closely watched software unit, sending its shares up sharply on Thursday.

Nor were software and services the company's only source of revenue: BlackBerry's technology solutions division brought in $38 million, handheld devices $16 million, system access fees $38 million, and licensing fees $56 million.

The company, which provides enterprise mobility and security software, reported fiscal second quarter non-GAAP earnings of $29 million, or 5 cents a share, 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.

Software and services revenue rose 26 percent from a year earlier to $196 million, exceeding forecasts of $174 million from RBC and $176 million from Macquarie. That beat the analysts' average estimate of break-even, according to Thomson Reuters I/B/E/S.

"We are building some very solid fundamentals in the business", CEO John Chen told CNBC's "Squawk Alley".

Last year, the company chose to stop making its trademark BlackBerry smartphone, license the technology to others to focus on software. "I'm comfortable with where we are as a company".

Excluding restructuring costs and other items, BlackBerry said it expected fiscal-year revenue of $920 million to $950 million and positive earnings per share.

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