Sunday, November 28, 2021
E-Mind Bot

Blackberry profits and breaks the forecasts

The year 2019 will be a year of consolidation for blackberry strategy, focused on ‘software’ and cybersecurity.
Quarterly sales of Blackberry exceeded analysts’ forecasts, which the Canadian company extends a string of positive surprises that marked 2018.

Over a decade ago blackberry was a force to reckon with in the Smartphone market until Apple’s iPhone and other Android devices kicked them out of the market.

The reinvention of Blackberry to become a software company is taking hold. The company made a profit of $ 59 million in the quarter that ended on November 30 from a loss of $ 275 million from the previous year. On a tight basis, the company said it earned 5 cents per share which is more than the estimated 1 cent per share.

BlackBerry has moved away from phone manufacturing in recent years and instead has sought to redefine itself as a provider of security software under Executive the Directorship of John Chen. The company offers a range of different product lines, such as systems to manage a complete set of mobile phones or to allow cars to update their entertainment systems safely. “Transportation, especially when it comes to autonomously driven vehicles and connected car, that had done the best in the last quarter,”
John Chen said

The Canadian reaffirmed this perspective for 2019. It expects a total growth of ‘software’ revenues and services of between 8 percent and 10 percent. The Waterloo, Ontario-based company is also looking to boost medical care, Chen said earlier this year.

BlackBerry announced last month that it will acquire cybersecurity company Cylance Inc. for $ 1.4 billion in hopes of adding artificial intelligence capabilities to its ‘software’ products. The agreement is on track to close in February, although Chen said his conversations with clients have been limited, since the company only received an antitrust authorization HSR a week ago.

Cylance has more than 3,500 active business clients, including a fifth of the Fortune 500. Its annual revenues in 2018 reached 130 million dollars and since its foundation in 2012, it has achieved nearly 300 million dollars. dollars in financing rounds.

Everyday technology provides me with food for thought.

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