Economy

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.



Like this

Latest


28 September 2017
BATE Borisov v Arsenal line ups: Arsene Wenger's Europa League selection confirmed
Maitland-Niles is likely to play right wing back tonight, even though Wenger has talked about his future as a defensive central midfielder. "He has a great future".

28 September 2017
FCC chair wants Apple to activate iPhone FM chips after disaster
But not iPhone users. "I applaud those companies that have done the right thing by activating the FM chips in their phones". The FM radio option comes with the Qualcomm chips installed on iPhones, and nearly every smartphone in the market.

28 September 2017
Arlington Firefighters Collect Donations For Puerto Rico
Ortiz and several other volunteers loaded up a truck and drove it to Foxwoods Resort Casino. The police, fire and bar groups are working with La Casa Puertorriquena, located at 2138 N.

28 September 2017
Lata Mangeshkar receives much love from Bollywood on her birthday
She is considered to be master of singing and is a living ideal for every singer in the Indian film industry. Vishal Dadlani: Happy Birthday Lata Mangeshkar ji! "To many more years of happiness, health and music".

28 September 2017
SteelSeries launches new Apex 150 splash proof gaming keyboard
There are not dedicated gaming or macro keys, though each key is independently programmable through SteelSeries' Engine utility. Users can even use the LED as a notification for the integrated apps such as Discord, CS:GO, DOTA2, audio visualizer and more.

28 September 2017
Will Judwaa 2 become Varun Dhawan's 4th 100 crore film?
The star cast of the David Dhawan film will be gracing BB 11 on its opening episode, which will air on Colors TV on October 1. The film has generated tremendous buzz owing to its chartbuster songs and content pieces which has been unveiled so far.

28 September 2017
North Korea Declared Right To Shoot US Planes, Said Trump Declared War
In an unprecedented direct statement on Friday, Kim called Trump a "mentally deranged US dotard " he would tame with fire.

28 September 2017
FBI summoning Nike employees in their college basketball corruption investigation
However, Merl Code, a former Nike youth league employee who is now affiliated with Adidas, was named as a defendant. Nike's EYBL was not listed in complaints from the investigation that were released to the public Tuesday.

28 September 2017
Giant rock falls, kills visitor at Yosemite National Park
It was not clear whether the two victims were climbers or tourists at the site during the height of the climbing season. Longtime Yosemite climber Peter Zabrok (ZAY'-brok) says he's never seen anything like the chunk of rock that broke off.

28 September 2017
Democratic Sen. Joe Donnelly to fly to IN with Trump
The White House is looking to moderate Democrats up for re-election, like Donnelly, to build support for tax reform. President Donald Trump spoke just hours ago at the Indiana State Fairgrounds addressing his model for tax reform.



Recommended