{"id":9424,"date":"2017-09-28T21:56:13","date_gmt":"2017-09-28T21:56:13","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/blackberry-yes-blackberry-is-making-a-comeback-as-a-software-company.html"},"modified":"2017-09-28T21:56:13","modified_gmt":"2017-09-28T21:56:13","slug":"blackberry-yes-blackberry-is-making-a-comeback-as-a-software-company","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/blackberry-yes-blackberry-is-making-a-comeback-as-a-software-company.html","title":{"rendered":"BlackBerry, yes BlackBerry, is making a comeback as a software company"},"content":{"rendered":"


\n<\/p>\n

When you think about dead companies walking, BlackBerry<\/a> was clearly one that came to mind, but under the leadership of CEO John Chen, the company is actually making a comeback as a software company focused on security, and it\u2019s latest quarterly earnings report<\/a> suggests the pivot is working splendidly.<\/p>\n

The company reported revenue of $249 million, which shattered analyst\u2019s expectations of $220 million, according to published reports<\/a>. The surge was led by record software revenue, which came in at $996 million, a year-over-year increase of 26 percent. The company also reported record gross margins of 76 percent up from 67% last quarter and 62% a year ago.<\/p>\n

CEO John Chen was justifiably pleased and Wall Street rewarded the company stock, which started the day at $9.90 per share and was sitting at $10.44 at the time of publication. It had been as high as $10.79 earlier in the day.<\/p>\n

\"\"<\/p>\n

BlackBerry five year stock price snapshot. Chart: Yahoo Finance<\/p>\n

All in all the company is trending in the right direction, something that seemed unthinkable a five years ago when BlackBerry was left for dead after its phone business went in the toilet, the victim of competition from iPhone and Android phones.<\/p>\n

When Chen took over the company in November 2013<\/a>, it seemed he was on a fool\u2019s errand trying to save a company that had little chance in the handset market, but one thing the company had was some cash on hand from its glory days as a popular handset maker. Chen has used that cash for strategic purchases that have helped redefine the company.<\/p>\n

\"Screenshot<\/p>\n

Chart: Crunchbase<\/p>\n

Prior to his coming on board, BlackBerry was a company taking on water. It had watched its phone marketshare get hacked. Set the wayback machine for 2009 and you\u2019ll see a company that was firmly in control of the smartphone market, according to data from comScore<\/a>\u00a0(BlackBerry was known as RIM in those days):<\/p>\n

\"Screenshot<\/p>\n

Chart: comScore<\/p>\n

Fast forward four years to December 2013, the month after Chen took over and the market had shifted dramatically<\/a>:<\/p>\n

\"Screenshot<\/p>\n

Chart: comScore<\/p>\n

If you looked at the company purely from a phone perspective, it didn\u2019t seem to have much left, but Chen obviously saw a way forward for the company and he began to reshape it slowly but surely. The report today is just a one-quarter snapshot, but it\u2019s one that shows companies can rally from seemingly unrecoverable situations.<\/p>\n

While Chen admitted to CNBC<\/a>, that there could be bumps in the road ahead, BlackBerry has redefined itself as a software company, and once again the future looks bright. That didn\u2019t seem possible all that long ago.<\/p>\n

<\/p>\n

Featured Image: Bloomberg\/Getty Images<\/small><\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/vwi5c9VgGKM\/<\/p>","protected":false},"excerpt":{"rendered":"

When you think about dead companies walking, BlackBerry was clearly one that came to mind, but under the leadership of CEO John Chen, the company is actually making a comeback <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-9424","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t