Blackberry rebounded from its 52-week low thanks to acquisitions and sales for its new Android smartphone. The technology company is also expanding its software unit. It provides recurring licensing fees and reveals consumer confidence in Blackberry’s security systems.
BLACKBERRY LTD. (Toronto symbol BB; www.blackberry.com) continues to expand its software business, which provides repeat licensing fees and cuts its dependence smartphone sales.
The company recently paid $250 million for AtHoc. Its software lets users securely exchange messages during crises (all amounts except share price and market cap in U.S. dollars.). AtHoc’s clients include the U.S. defence and homeland security departments.
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BlackBerry also bought Good Technology, whose software improves the security of messages sent through mobile devices, for $425 million.
In its fiscal 2016 third quarter, which ended November 28, 2015, BlackBerry’s revenue fell 30.9%, to $548 million from $793 million a year earlier. However, that’s up 11.8% from $490 million in the second quarter. Smartphones supplied 40% of the company’s revenue, followed by fees it charges wireless carriers to access its networks (31%). Software it installs on its clients’ email servers (29%) follows closely. The company lost $0.03 a share, compared to a year-earlier profit of $0.01 a share.
BlackBerry ended the quarter with cash of $2.65 billion, or $5.04 a share. Its long-term debt of $1.3 billion is a manageable 35% of its market cap.
The company recently launched its Priv smartphone, which is powered by Google’s Android software. Initial demand is strong, and BlackBerry plans to start selling the Priv in 30 more countries in early 2016. Even so, the company needs to sell 5 million phones a year for the hardware business to break even; it sold just 2.6 million in the first nine months of fiscal 2016.
The stock has rebounded from its low of $7.99 in October 2015 and could go higher if its acquisitions work out as planned. BlackBerry’s reputation for security will also help it hang onto its corporate and government clients. However, the stock could fall if the company’s momentum stalls.
Recommendation in The Successful Investor: HOLD for aggressive investors.
For our view on how to judge tech stocks coming on to the market, read What are new tech stocks?
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
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The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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