Another legend has become smaller. BlackBerry will no longer develop smartphones
BlackBerry has published a report on the results of the second quarter of the 2017 financial year, which ended August 31.
Let’s start simple. For the quarter, the canadian company was rescued by 334 million dollars and it is much less than last year, when revenue amounted to 490 million dollars. Operating loss reached 355 million dollars, while a year earlier were recorded operating profit of $ 33 million dollars. Net loss amounted to 372 million dollars is 51 million dollars of net profit a year earlier.
Revenue Software and Services amounted to 138 million dollars. If considered not by the method GAAP, the revenue is equal to 156 million, corresponding to growth at an annual rate of 111%. That is to say that BlackBerry is slowly moving toward its goal of becoming a company dealing IN.
In addition, the company reported on the conclusion of several treaties relating to the promotion of its products and services. The total amount of cash and cash equivalents, short-term and long-term investments at the end of the quarter amounted to $ 2.5 billion. The net balance, after deduction of debt is 1.22 billion.
Probably the most interesting for many aspect regarding the future of the BlackBerry fit in one line and is not highlighted in the document. The company said that completely ceases the development of hardware solutions and passes this function the outsourcing partners. Simply put, the new BlackBerry smartphones may well be on the market in the future, but it will no longer be the device developed by BlackBerry itself. In fact, this process was already launched some time ago, when the apparatus DTEK50, which is a branded copy of the Alcatel Idol 4.
It should be noted that immediately after the publication of the report, the company’s shares rose 5%.