Sorry you missed me, was away from a computer for most of the day as I had to attend to a personal matter.
CEO Chen is only 13 months or so into his tenure and had done a bang up job. You'll recall a year ago, they reported a loss of 4 Billion in the quarter.
Chen said he would return the company to profitability in 8 quarters.
In yesterdays report, BB earned a profit, where the analysts were expecting a loss. Chen is 2 quarters ahead in his plan. This is good news.
Last year, he said he gave a 50/50 chance the company would survive.
Now he says it has a 99% chance. Anybody who has followed Chen knows that "he tells it like it is"
Chen on Bloomberg interview...."
I have been very consistent about it, we will focus on positive cash flow, and positive profits (first)....revenue growth will come next year..."
IMHO, next 2 quarterly results Feb/May will be the ones to watch, and truly give a pulse into whether their focus on software, and to a less degree devices, will be successful:
-BES12 launched recently and they should report revenue on this.
-the Classic just launched and for the first time in ages, US carrier support will be there. AT T, Verizon and others will be carrying this product and if I read correctly, they will also assist in the marketing. This is very important for them to move handsets.
-they also launched BBM meetings and other pay for services. Again, these should generate revenue.
Also other notables that came out recently that can only help BB's case :
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Vodafone gets almost a billion dollar loan to buy specifically BlackBerry products and services.
-Samsung, who's mobile business and profits are falling off the cliff, looking to improve their paltry 2% government business market are
getting in bed with BlackBerry, which basically admits to the world that BB is world class security, and no matter how much they tinker with Android Knox, its still had more security holes than swiss cheese.
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Boeing, the second largest US defence contractor, is now looking to BB as well to secure their special self destructing "black phone".
-I could go on and on about recent new customers and collaborations with NantHealth, Ingram Micro, Mackenzie Health, Ocean Capital, etc, but I would just bore you with this.
Future sure doesn't look too shabby for everyones favourite "bankrupt" tech company. :lol:
EDIT : added link for your viewing pleasure.....
http://www.bloomberg.com/video/blac...-strategy-outlook-HCRr5rqhR7WtZifDhYu50A.html