BlackBerry beats Q2 targets, cites growth in automotive vertical

BlackBerry has exceeded expectations in the second quarter and shows the growth of QNX embedded automated software. The company's stock rose almost 10% at the beginning of the session.

Enterprise mobility and security software vendors announced non-GAAP earnings of 2 cents per share with sales of $ 214 million. On a GAAP basis, Blackberry reported a reported income of 8 cents per share.

Wall Street expected a non – GAAP – based benefit of 1 cents per share with sales of $ 210 million.

Based in Ontario, Waterloo, the company reports total software and service revenue of $ 174 million. Sales of software and business services were $ 92 million, but BlackBerry's intellectual property rights and license sales amounted to $ 56 million. Terminal revenue was $ 5 million, compared to $ 8 million in the previous quarter.

Meanwhile, sales of BlackBerry technology solutions reached $ 49 million due to the growth of the automotive sector. The company's gross profit margin rose to 78%.

"In the fourth quarter, our BlackBerry Technology Solutions and enterprise software and services business grew steadily and the financial expectations of the company was raised," said John Chen, Chief Executive Officer of BlackBerry, Exceeded.

With respect to the outlook, BlackBerry expects revenues for software and services to increase by 8-10% over the previous year, looking at the positive adjusted earnings per share for fiscal 2019.

© Zdnet

Hope you like the news BlackBerry beats Q2 targets, cites growth in automotive vertical. Stay Tuned For More Updates 🙂

The Compsmag is a participant in the Amazon Services LLC Associates Program, which is an affiliate advertising program designed to offer sites a means to earn advertising costs by advertising and linking to
Compsmag - Reviews, News And Deals!