Home / Insurance Tips / BlackBerry Ltd makes headway in its bid to boost sales in enterprise software

BlackBerry Ltd makes headway in its bid to boost sales in enterprise software

BlackBerry Ltd's new Priv device - the first BlackBerry to use the Android operating system - has been well received since it was launched in November, late in the company's third quarter, CEO John Chen said.

BlackBerry Ltd makes headway in the bid to boost sales in enterprise software

As device sales tumbled, BlackBerry Ltd. searched for other sources of revenue, planting a seed within the software business and nurturing the nascent unit with recent acquisitions.

This jobs are beginning to grow.

In the third quarter, revenue attributed to software and services nearly tripled to US$162 million in the same period this past year, lifted through the 2,713 enterprise customers it said hello acquired. More of its software sales are recurring, which can be relied on later on and can help stabilize volatility. It propelled BlackBerry to post better sales, earnings per share along with a narrower loss than analysts expected.

Investors on both sides from the border cheered. Shares of BlackBerry rose 9.7 per cent in Toronto to $11.95 and jumped by almost 11 percent to US$8.61 in New York, where trading volumes exploded. For the year, its shares are down six and 22 per cent, respectively.

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Chief Executive Officer John Chen said Friday that BlackBerry sent a definite message in September when it bought rival Good Technology Corp. for US$425 million: spend here and trust us again.

“BlackBerry accustomed to own the damn market. It had been because, within the last number of years, with our turmoil, that others were making inroads,” Chen told a group of reporters throughout an interview in Waterloo, Ont. “The customers now know we’re seriously interested in e-commerce. They now know we are not giving them empty words about how exactly we are returning. What we have done is restore their confidence. So, they are buying.”

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