BlackBerry reports Q2 profit up from year ago, tops analysts’ expectations
Growth from BlackBerry Technology Solutions and Enterprise Software and Services businesses exceed expectations
WATERLOO, Ont. – BlackBerry Ltd. reported its second-quarter profit more than doubled compared with a year ago.
The software company, which keeps its books in U.S. dollars, says it earned US$43 million or eight cents per basic share in its latest quarter, up from a profit of $19 million or four cents per basic share a year ago.
On an adjusted basis, BlackBerry says it earned four cents per share for the quarter, while Thomson Reuters Eikon says analysts on average had expected a profit of a penny per share.
Revenue totalled $210 million, down from $238 million in the same quarter last year.
Total cash, cash equivalents, short-term and long-term investments were $2.4 billion as of Aug. 31.
BlackBerry executive chairman John Chen says the company exceeded its financial expectations due to sequential growth in both its BlackBerry Technology Solutions and Enterprise Software and Services businesses.
“I am very encouraged by BlackBerry’s leadership opportunities in the fast-growing Enterprise of Things, and by our strategy to capitalize on these significant future opportunities with BlackBerry Spark, our platform to securely communicate and collaborate between smart endpoints,” Chen said in a statement.