BlackBerry CEO predicts profit in fiscal 2018

first_img Blog Author BlackBerry’s executive chairman and CEO John Chen (pictured) said the company is poised to return to profitability within the next 12 months, after it began to gain traction in key areas of its renewed strategy during its fiscal Q4 2017.The company slashed operating costs and net loss in the recent quarter, which covers the three months to end-February 2017 – results Chen said matched or bettered analysts’ predictions for the period as BlackBerry began to benefit from an improved revenue mix in its software and services business.In its earnings statement, BlackBerry pointed to a key licensing deal with Optiemus Infracom, the launch of the BlackBerry KeyOne by TCL, an announcement covering connected car software, and a new enterprise SDK as highlights of the recent period.“In the quarter, we continued to grow our mix of software and services revenue across the company. In turn, this allowed us to expand our operating margin and report positive free cash flow. In addition, our balance sheet continues to strengthen and benefit from reduced capital requirements with our focus on software and licensing,” Chen said.The CEO added BlackBerry is “executing well and gaining traction” in its areas of strategic focus, enjoyed “one of our best-ever software billings quarters” in its enterprise business, won new business in IoT appliances, and secured global coverage in terms of mobile device licensing.EarningsChen said BlackBerry’s performance during fiscal Q4 leaves it confident of growing “at or above the overall market in our software business,” and of turning a profit on a non-GAAP basis during fiscal year 2018.The company reported a net loss of $47 million in fiscal Q4 2017, well below the $238 million loss recorded in the same period of fiscal 2016. While revenue fell from $464 million in fiscal Q4 2016 to $286 million in the recent quarter, BlackBerry reined in its cost of sales and operating expenses year-on-year.Despite Chen’s confidence, in its full FY2017 BlackBerry’s net loss soared to $1.2 billion from $208 million in FY2016. Full year revenue of $1.3 billion was down from $2.1 billion in fiscal 2016.The company registered 30 per cent annual growth in software revenue in FY2017, hitting the target set by Chen for the period, Bloomberg reported. TCL eyes value sector with CES duo, teases 2021 range HomeDevicesNews BlackBerry CEO predicts profit in fiscal 2018 Michael Carroll Michael doesn’t want to admit that he has been a journalist and editor for close to 20 years covering a diverse set of subjects including shipping and shipbuilding, fixed and mobile telecoms, and motorcycling…More Read more BlackBerry sells smartphone IP to Huaweicenter_img Blog: Will BlackBerry mark-3 strike the right key? Previous ArticleEx Ericsson chief Vestberg joins VerizonNext ArticleAustralian banks lose Apple regulatory case AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 31 MAR 2017 BlackBerryOptiemus InfracomTCL Related Tags last_img read more

MLA hits out at major cake bill by civil servants

first_img Important message for people attending LUH’s INR clinic MLA hits out at major cake bill by civil servants Twitter A West Tyrone MLA has hit out at civil servants in Northern Ireland as its emerged over £1000 was spent on purchasing cakes in celebration of the roll-out of Universal Credit.Universal Credit is a benefit scheme which MLA Daniel McCrossan claims is the most disgusting and disastrous benefit cuts to be adopted and has lead to an increase in the number of people depending on food banks.He says the money spent of the cakes would have been better directed helping the communities of Strabane and the wider West Tyrone areas:Audio Player Up/Down Arrow keys to increase or decrease volume. Facebook By News Highland – December 11, 2018 Google+ AudioHomepage BannerNews WhatsApp Pinterest Twitter Google+center_img FT Report: Derry City 2 St Pats 2 WhatsApp Previous articleOver €100,000 allocated to sports groups across DonegalNext articleNew system for fining speeding motorists presented to Cabinet today News Highland Pinterest Derry draw with Pats: Higgins & Thomson Reaction Facebook DL Debate – 24/05/21 News, Sport and Obituaries on Monday May 24th RELATED ARTICLESMORE FROM AUTHOR Arranmore progress and potential flagged as population growslast_img read more