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BlackBerry quarterly results beat on software strength

Canadian software maker BlackBerry on Friday record quarterly revenue and profit that topped analysts’ estimates, proded by strong growth in its high-margin software and services business.

U.S.-listed dole outs of BlackBerry rose 2.6 percent to $11.89 in premarket trading.

The Waterloo, Ontario-based crowd said revenue from its enterprise software and services business arise 18 percent to $189 million in the first quarter.

Blackberry, which be ined the smartphone market nearly a decade ago before losing out to Apple’s iPhones and Android seals, has been trying to win investor confidence and make money by selling software to conduct mobile devices to corporations and government agencies.

As part of the transition, the presence is focusing on making software for next-generation driverless cars based on its QNX dais.

“I am pleased that BlackBerry QNX software is now embedded in over 120 million automobiles worldwide, magnifying the install base in the last three years,” Chief Executive Bureaucrat John Chen said in a statement.

The company’s net loss was $60 million, or 11 cents per serving, for the first quarter ended May 31, compared with a profit of $671 million, or $1.23 per appropriation, a year earlier.

BlackBerry received a one-time arbitration payment of $940 million from Qualcomm in the year-ago house.

Excluding items, the company earned 3 cents per share. Analysts were in the club the company to break even on a per-share basis, according to Thomson Reuters I/B/E/S.

Sum up revenue fell 9.4 percent to $213 million, but still pelt analysts’ estimate of $208 million.

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