Blackberry beats estimate on licensing, cybersecurity push, shares snowball 10%



by   |  VIEW 871

Blackberry beats estimate on licensing, cybersecurity push, shares snowball 10%

On Friday, the 20th of December 2019, Waterloo-based Canadian multinational software company, BlackBerry Ltd., which primarily centres its focuses on enterprise software building and Internet of Things (IoT), had released its earnings’ report for the third quarter of the year that ended on November 30th which had beaten Wall St.

estimates by a considerable margin over a buoyed up demand of its patent licensing alongside cybersecurity businesses, eventually space-diving its shares’ prices more than 12 per cent to its highest level since March this year.

On top of that, following reveal of its riant quarterly earnings’ report that released earlier on Friday (December 20th) NYSE-listed shares’ prices of the Waterloo-based software company, best-known for its BlackBerry brand smartphones and tabs, wrapped up the day 12.39 per cent higher to $6.53 per share after surging as much as 10.75 per cent during pre-market trading.

Besides, according to the once-popular smartphone brand that was casted away following a rapid revolution of Android devices alongside Apple Inc.’s iPhones, BlackBerry Ltd.’s net revenue rose by 23 per cent to $280 million between September and November this year, wildly beating an analysts’ estimate of $276 million, IBES data from Refinitiv revealed.

Meanwhile, in a post-earnings’ call, Chief Executive of BlackBerry that now offers cybersecurity software for government agencies and corporations alongside autonomous cars to earn its keeps, John Chen said on Friday (December 20th) morning US trading hour, “The complete offering of Cylance products and services will no doubt help drive stronger revenue growth next year. ”