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BlackBerry turning things around thanks to record software sales
BlackBerry has posted higher than expected profit in the second quarter of the year thanks to record software sales. The company generated a net income of $19 million, compared to a loss of $372 million a year before, while software and services revenue stood at $196 million, or 26 percent more than in the same period in 2016. BlackBerry was able to beat market expectations thanks to its licensing deals, which brought it $56 million — $40 million more than last year.
As you may know, BlackBerry has exited the smartphone market and now sells software to governments and corporations. Additionally, it’s also licensing its brand to TCL Communication, which now owns the rights to make, market, and sell smartphones under the BlackBerry name.
It’s great to see that things are turning for the better for the Canadian company, which has struggled financially for quite some time. Its revenue has declined for seven straight years and has now not only increased, but also exceeded expectations.
BlackBerry still has a lot of room to grow, especially if the smartphones made by TCL gain more traction on the market. This could make the brand more valuable, bringing additional money into BlackBerry’s pocket when a new licensing agreement is made.
The most popular Blackberry-branded device right now is probably the KEYone, which was sold out quickly when released in the US back in June. But there are a number of other great handsets available to choose from including the DTEK60 and DTEK50.