BlackBerry: shares rally over 5% with earnings
(CercleFinance.com) - BlackBerry posted better-than-expected quarterly results on Thursday, confirming that the turnaround attempted by the former smartphone maker is finally paying off.
BlackBerry shares surged more than 5% after the Canadian company reinstated its outlook for fiscal 2019 with the growth in software and services billings expected to be "double-digits."
For the third quarter ended 30 November, software and services revenue jumped by 10% year-on-year to 219 million dollars, mainly driven by the automotive market.
BlackBerry's gross margin reached 75.2% of revenue, and it reported non-GAAP operating income of 27 million dollars, positive for the eleventh consecutive quarter.
"We delivered another solid quarter of performance," said CEO John Chen.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
BlackBerry shares surged more than 5% after the Canadian company reinstated its outlook for fiscal 2019 with the growth in software and services billings expected to be "double-digits."
For the third quarter ended 30 November, software and services revenue jumped by 10% year-on-year to 219 million dollars, mainly driven by the automotive market.
BlackBerry's gross margin reached 75.2% of revenue, and it reported non-GAAP operating income of 27 million dollars, positive for the eleventh consecutive quarter.
"We delivered another solid quarter of performance," said CEO John Chen.
Copyright (c) 2018 CercleFinance.com. All rights reserved.