BlackBerry reported earnings yesterday, and it looks like they're still losing money. They are losing less money than last year, but revenue is also down. The company reported a loss of $28 million on revenue of $658 million, compared with a loss of $60 million on revenue of $966 million in the same period last year. Is this good news or bad news for BlackBerry? Shares of BlackBerry were down 4% on the news.
BlackBerry only sold 1.1 million phones in Q1 which is 500,000 fewer phones than it sold in the period last year. Not great.
Questions still remain about BlackBerry's plan to increase its software business. That business is not growing as well as expected and some are still questioning whether John Chen can really grow the software business enough. BlackBerry still has a lot to prove and they are still struggling.
John Chen remains confident. He said, “I feel the direction and momentum.” We'll see!
BlackBerry only sold 1.1 million phones in Q1 which is 500,000 fewer phones than it sold in the period last year. Not great.
Questions still remain about BlackBerry's plan to increase its software business. That business is not growing as well as expected and some are still questioning whether John Chen can really grow the software business enough. BlackBerry still has a lot to prove and they are still struggling.
John Chen remains confident. He said, “I feel the direction and momentum.” We'll see!