The main reason behind good quarterly Blackberry (NYSE:BB) results is the fact that they are not in the phones anymore. Blackberry is heavily into car software and security, much better than phones niche. I am sure you agree?
BlackBerry Reports Strong Fiscal 2021 Q2 Results, Beating Both Revenue and EPS Expectations
•Total company non-GAAP revenue of $266 million; total company GAAP revenue of $259 million, both reporting sequential and year-on-year growth.
•Non-GAAP earnings per basic and diluted share of $0.11; GAAP loss per basic and diluted share of $0.04.
•Net cash generated from operating activities of $31 million.
“We are pleased to report sequential and year-over-year revenue growth this quarter, exceeding expectations, despite the ongoing challenges from COVID-19,” said John Chen, Executive Chairman & CEO, BlackBerry. “Continued demand for our secure, ‘Work from Anywhere’, solutions remains a major driver for our BlackBerry Spark business, which performed well this quarter. Some signs of recovery in auto production point to sequential revenue growth and a return to a normal run rate for QNX by early next year. Continued QNX design wins and significant cybersecurity partnerships position the business strongly for the future. We are also seeing positive signs from our focus on the key components of our go-to-market strategy, including: strong channel partnerships, marketing, customer success and investing in new talent for our sales force.”
So here you go folks, three keywords for the future of BB stock:
- Autonomous vehicle systems
And if you are still thinking how there is no future for Blackberry, think again, as it seems they are a healthy long term investment.