BlackBerry delivers better-than-expected results, driven by software.
Without adjustments, the company posted a loss of $60 million, or $0,11 per share, in the first fiscal quarter ended May 31, compared with a profit of $671 million in the same period last year when it benefited from a $940 million payment from Qualcomm.
(Reuters)- BlackBerry reported quarterly profit above analysts' expectations, driven by growth in its software and services businesses, the Canadian company said Friday.
The company said revenue from enterprise software and services rose 18 percent to $189 million in the first quarter.
The company, which once dominated the global smartphone market nearly a decade ago before losing its leadership to Apple devices equipped with the Android operating system, has been trying to regain investor confidence by focusing on selling software for managing corporate mobile phones and those used by government agencies.
As part of a transition, BlackBerry has been focusing on software for driverless cars based on its QNX platform.
“BlackBerry QNX is now incorporated into more than 120 million automobiles worldwide, doubling its installed base in the last three years,” stated the company's CEO, John Chen.
On an adjusted basis, the company's earnings per share were $0,03 per share, while analysts had expected breakeven, according to Thomson Reuters data.
Without adjustments, the company posted a loss of $60 million, or $0,11 per share, in the first fiscal quarter ended May 31, compared with a profit of $671 million in the same period last year when it benefited from a $940 million payment from Qualcomm.
Revenue fell 9,4 percent to $213 million, but exceeded analysts' expectations of $208 million.