Free From Phones, BlackBerry Posts Profit, Says More to Come [Bloomberg Business News]
BLACKBERRY LTD COMMON (BBRY)
US:NASDAQ Investor Relations:
us.blackberry.com/company/investors
Company Research
Source: Bloomberg Business News
BlackBerry Ltd. is finally starting to look like a real software company. After three years of acquisitions, layoffs and trying to convince customers it could do more than build smartphones, the Canadian company’s software revenue and profit margins are growing in the way Chief Executive Officer John Chen wants them to. The stock too: It rose the most in 15 months. BlackBerry surpassed its target of $640 million in software revenue for fiscal 2017, achieving Chen’s goal of increasing sales from that division by 30 percent in the year. It posted profit of 4 cents a share, beating out the highest estimate from analysts, and said it would be profitable for its entire fiscal 2018, which began this month. Gross margins were around 60 percent, the company said in a statement Friday. BlackBerry expects to achieve margins of 70 percent for fiscal 2018, Chief Financial Officer Steve Capelli said on a call with analysts. BlackBerry surged as much as 13 percent to
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