The BlackBerry smartphone back in market stronger than ever.

September 28, 2017

The BlackBerry Ltd sales hit a record sending its shares up for more than 12 percent.

 

By the end of last August the software and services revenue of the company rose 26 percent to $196 million. Obviously these results are very good sign that the rebuilding of BlackBerry smartphone business is succeeding.

 

The Chief Executive Officer John Chen strategy is to discontinue smartphone manufacturing and focused on selling software to industrial companies and large corporations.

 

The partnership with auto supplier Delphi Automotive Plc on a software operating system for self-driving cars raised the BlackBerry Ltd shares up to 9 percent.

 

Most of BlackBerry’s software revenue now comes from managing phone systems for corporations and government entities, but it expects the automotive industry and industrial applications to accelerate growth in the future.
 

The company reported a quarterly profit of 5 cents a share, excluding special items. Analysts were expecting break-even results.

 

BlackBerry’s Canadian-listed shares jumped 12.3 percent to C$12.95, while its U.S.-listed stock gained 12.6 percent to $10.39.

Tags: Anxiety into Opportunity

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2017 Elira Bregu Los Angeles CA USA