BlackBerry 3Q18 earnings pull in record revenues
BlackBerry is making gains again in its third quarter of fiscal 2018 as primarily an enterprise software and services company, even as its smartphone manufacturing partner, TCL, is in the throes of losses.
Under common accounting, the Canadian company reported gross revenue US$226 million. While it’s down 25 percent from a year ago, it beat market expectations of around $215 million. BlackBerry logged a net loss of $275 million after write-offs and arbitration — its recent resolution with Nokia will be reflected in next quarter’s results.
The big buoys include a record 74 percent margin on its products and software and services sector revenue of $190 million, both breaking records set in the previous quarter. BlackBerry is now gaining ground with clients such as NATO, the US Department of Justice and Department of Defense, the government of the Netherlands, Deutsche Bank and others — 3,000 enterprise customer orders were reported.
The company’s QNX smart automotive initiative is still struggling to gain ground, though it’s hoped that a partnership with Qualcomm on this front will boost cache.
As for revenues derived from handheld devices — as good as deprecated at this point — that has dropped to a mere $9 million.