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

loading...
loading...

Latest


28 September 2017
ISIS leader heard alive, talking about North Korea in new recording
Militants blew up Mosul's El Nuri mosque where Baghdadi made his 2014 declaration after Islamic State captured the city. The U.S. -led coalition and Iraqi officials declared victory in Mosul in July.

28 September 2017
GoPro Hero 6 can be in your hands now for $499
Powered by GoPro's custom-designed GP1 processor, the Hero6 is capable of capturing 4K, 60 frames per second and 1080p240 video. The company also used the event to unveil the next version of its flagship action cam, the Hero 6.

28 September 2017
Equifax will let customers control their credit data for free
On behalf of Equifax, I want to express my honest and total apology to every consumer affected by our recent data breach. Get started with his step-by-step Credit Freeze Guide .

28 September 2017
What about Moto G4 Play, Moto X Play?
But owners of the phone that has the Moto X Style moniker elsewhere in the world had to wait five more months for the actual upgrade to arrive.

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
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
Cleveland Browns DE Myles Garrett returns to practice on Thursday
The Browns selected Garrett with the No. 1 pick in the 2017 National Football League draft. Injuries such as Garrett's typically require four to six weeks of recovery time.

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.