TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
BlackBerry beats revenue estimates for fourth quarter in a row
BlackBerry's revenue reached US$217 million, higher than the average of analysts’ estimates of $211 million.
Change Size
BlackBerry Ltd.’s Chief Executive Officer John Chen speaks during the company's Security Summit in London in this Oct. 24, 2017 file photo. (JP/Primastuti Handayani)
B
lackBerry Ltd.’s Chief Executive Officer John Chen is making good on his promise to stabilize the company he turned from a failing smartphone maker into a mid-range cloud software provider.
Shares in the company jumped in early trading as it beat analyst estimates for revenue growth for the fourth quarter in a row. Revenue was US$217 million, compared with the average of analysts’ estimates of $211 million, while profit, excluding some items, was 3 cents, far ahead of the average estimate of less than 1 cent, according to a statement from the Waterloo, Ontario-based company Friday. About 86 percent of software revenue was recurring, a key measure analysts use to judge whether growth is based on core software sales or simply one-time licensing deals.
Under Chen, BlackBerry acquired a collection of small software companies to beef up its offerings, and pushed more aggressively into the automotive tech fields. The company has also been pursuing patent lawsuits against tech giants like Facebook, which is says built popular chat features based off of BlackBerry ideas.
