Blackberry software and services revenues up 18% in Q1 2019 results

By zaymalz malz

Ontario-based technology company Blackberry has announced that it total software and services revenue grew 18% year-over-year to $189mn, as shown by the company’s latest Q1 2019 financial year results.

The earnings report exceeded analysts’ estimates, resulting in the company’s shares rising 2.6% in premarket trading.

See also:

Blackberry has transformed its operations in recent years, moving away from its hardware smartphones business into new markets, now describing itself as “an enterprise software and services company focused on securing and managing IoT endpoints”.

Further, Blackberry is increasingly looking to grasp a larger portion of the automotive software and services market, having worked closely with the likes of Jaguar, Baidu and Qualcomm in recent times following the launch of its QNX operating system.

“I am pleased that BlackBerry QNX software is now embedded in over 120 million automobiles worldwide, doubling the install base in the last three years,” said John Chen, Chairman and CEO of Blackberry. “We are very excited about the opportunities ahead of us in automobiles and in other EoT verticals.”

In the wake of latest results, Blackberry has forecast that its free cash flow will remain positive for the remainder of the year.

Further, the company expects that its software and services revenue will continue to grow between 8-10% during the 2019 financial calendar.


Featured Articles

DEI done right: Brook Sims, COO, MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Q&A: China’s ecommerce innovator Jeff Li, CEO of Shoplazza

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

How hybrid work is revolutionising the physical office

As hybrid work models roll out worldwide, the purpose of the office is changing with collaboration, connection and networking taking centre stage

Trailblazer: Shanique Bonelli-Moore, DEI chief at Clorox


Dean Forbes – the Forterro CEO aiming for the moon

Leadership & Strategy

Why becoming a B Corp is good for business