BlackBerry posted $19M profit Beating Expectations.
BlackBerry Ltd. In the second quarter announced a profit contrasted with a loss a year back as it saw its service and software revenue hit a high record.
The company, which keeps its books in U.S. dollars, earned US$19 million or four cents per basic offer in the quarter finished Aug. 31. That contrasted with a loss of $372 million or 71 cents for each share a year prior, it said on Thursday.
General revenue totaled $238 million, down from $334 million from a similar quarter a year ago, however up $3 million from the quarter finished May 31.
The company has made a move to software and services in the course of recent years as its cell phones lost a piece of the overall industry to Apple and Samsung.
Software and services revenue hit $185 million in the quarter, a record for BlackBerry and around seventy five percent of the aggregate during the current year’s second quarter.
BlackBerry CEO John Chen said the company’s non-GAAP operating margin was the most elevated in over five years, mirroring its change to a software company.
“Based on our progress thus far in FY18, we are on track to achieve software and services revenue growth in the range of 10 per cent to 15 per cent and profitability for the full year,” he said in a statement.
In addition to other things, Chen said BlackBerry’s car business had gained ground and its licensing business has a developing pipeline of chances for its portfolio of intellectual property and the BlackBerry Secure software.