Time To Admit, BlackBerry’s Bad Days Are Over

23 Dec 2015 | Author: | No comments yet »

BlackBerry Edges Toward Software Goal as Handsets Slip.

The Canadian technology company still suffered a widely-anticipated fiscal third quarter loss – but of only three cents a share. BlackBerry Ltd. reported a narrower third-quarter loss than analysts estimated as software revenue kicked in from its acquisition of Good Technology Corp., helping offset the struggling handset business. BlackBerry is making progress toward a goal of $500 million in annual software revenue by March 2016, a key part of Chief Executive Officer John Chen’s plan to transition the company away from relying on shrinking handset sales. Software sales were $161.5 million, up from $54 million in the same quarter last year. “That’s encouraging — that tells me they’re on track to hit their $500 million target,” said John Butler, an analyst at Bloomberg Intelligence.

Analysts had been watching to see if the Priv, BlackBerry’s newest phone and the first to run on Google’s Android operating system, would take off. “My first goal is to get us into a break-even position with the device business,” Chen said on a conference call with analysts. “Maybe next quarter, maybe a quarter later, but we’re in that ballpark now.” Once that point is reached, strategic options become available, Chen said. BlackBerry’s QNX unit, which makes infotainment systems used in millions of vehicles, said earlier this week it was partnering with Luxoft Holding Inc. to work on semi-autonomous driving technology like that used by Tesla Motors Inc.

Although Pandora will pay more in royalties starting next year, CEO Brian McAndrews says the decision by the Copyright Royalty Board offers a “balanced rate.”

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