Boston, MA 09/29/2014 (wallstreetpr) – According to reports, the current CEO of BlackBerry Ltd (NASDAQ:BBRY) expects that the revenue from the software business will increase by 100% over the next twelve months. The company has earned around $250 million in the current fiscal year.
Insights of the announcement:
BlackBerry Ltd (NASDAQ:BBRY) reported its financial results of the most recent quarter on Friday. According to company’s spokesperson, it reported very small loss, which was a good sign in amidst of the challenging market conditions. BBRY is going through a transition period, and several decisions are being taken for the very first time; hence, the management of the company is ready to suffer initially for a solid long term growth. Shares of BBRY rose after the earnings announcement but went down afterwards.
It reported its financial results as well for the quarter ended August 30, 2014. As per the information, it reported a net loss of 39 cents per share or $207 million as compared to $1.84 per share or $965 million of the same period in last year. If special items are excluded, then it reported 2 cents a share loss for the quarter ended on August 30, 2014 as compared to the 47 cents per share loss a year earlier. Last year the revenue of the company was $1.57 billion, while it decreased to $916 million in the current year. It performed better than the consensus estimate from Thomson Reuters’ expectations as it expected it to report a net loss after excluding special items of 16 cents a share on the total revenue of $950 million.
BlackBerry Ltd (NASDAQ:BBRY) is known for strong hardware and security features. Last few years have not been that good for it. Not only has it lost market leadership position, but also the strong cash position. Despite current market adversities, the management of BBRY is keen on taking various steps to regain the market leadership position in the near future.
