Former Canadian smartphone giant and current software developer BlackBerry announced its third-quarter 2018 earnings, revealing the company generated $226 million USD (roughly $304.43 million CAD) in revenues.
According to a December 20th, 2018 media release, approximately $217 million USD ($292.25 million CAD) was generated as a result of the company’s software and services efforts.
The company’s software and services revenue grew 14 percent compared to Q3 2017.
The company generated $96 million USD ($129.38 million CAD) from its ‘Enterprise software and services’ division, as well as $53 million USD ($71.43 million CAD) from ‘BlackBerry Technology Solutions’ and $68 million USD ($91.65 million CAD) from its ‘Licensing, IP and other’ category of products.
Especially noteworthy is that the once-dominant hardware giant reported a negligible amount of income from its ‘Handheld devices’ division.
The company reported $9 million USD ($12.13 million CAD) in its handheld devices division at the end of Q3 2017.
BlackBerry’s quarterly operating income was $58 million USD ($78.15 million CAD).
“We delivered another solid quarter of performance, resulting in year-over-year double-digit percentage growth for total software and services revenue, earnings per share, and free cash flow” said John Chen, CEO and executive chairman of BlackBerry, in the same December 20th media release.
At the time of writing, the company’s stock sits at $10.57 CAD.
Sameer Chhabra is a recent graduate from the University of Western Ontario’s Master of Media in Journalism and Communication program. In his free time, Sameer can be found watching Aaron Sorkin-penned dramas and trying to learn about the stories that Canadians don’t know they don’t know.