Yes, blackberry is making a come back as a software company. Anytime you think of dead companies walking, BlackBerry was clearly one that came to mind, but under the leadership of CEO John Chen, the company is actually making a comeback as a software company focused on security, and it’s latest quarterly earnings report suggests the pivot is working plendidly.
It seems BlackBerry is now in the right direction, who could have thought the company will rise again five years ago when the company was left for dead after its phone business went in the toilet, the victim of competition from iPhone and Android phones. Now, Blackberry is set to regain it glory back as a software company.
According to published reports, The company reported revenue of $249 million, which shattered analyst’s expectations of $220 million. The surge was led by record software revenue, which came in at $996 million, a year-over-year increase of 26 percent. The company also reported record gross margins of 76 percent up from 67% last quarter and 62% a year ago.
Back in November 2013 when Chen took over the company as the CEO, most people thinks he was on a fool's errands trying to save a company that has little or no chance in the smartphone market. Now that has chanced. How did he do it? When Chen took over, the one thing the company had was some cash on hand from its glory days as a popular handset maker. Chen has used that cash for strategic purchases that have helped redefine the company.
When looking the company from a phone perspective, you will notice that the company is no where to be fund, compared to the giant OEM out there, the likes of Samsung, Apple, etc. But Chen obviously saw a way forward for the company and he began to reshape it slowly as software company.
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