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BlackBerry (BBRY) Focuses on Software to Regain Lost Glory
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Canadian handset manufacturer BlackBerry Ltd. had been grappling with declining sales in its handset business, following which it exited the smartphone business. However, the company’s software business has failed to build hope among investors so far.
The company, scheduled to report its fourth-quarter and full-year results on Mar 31, claims to have no major shortcoming in its software portfolio. In order to strengthen its position in the software business, BlackBerry recently made a string of acquisitions. However, the company acknowledges the need for more work in order to introduce its software offerings in the healthcare and automotive industries.
Chief Executive Officer of BlackBerry, John Chen, intends to boost sales to a level where it will account for 30% of software revenues, as per BlackBerry’s target for the recently completed fiscal.
BlackBerry has an enterprise-value-to-forward-revenue ratio of 3.14. As per Thomson Reuters data, the ratio for its software peers Oracle Corporation (ORCL - Free Report) and Microsoft Corporation (MSFT - Free Report) is around 4.5.
According to Thomson Reuters I/B/E/S estimates, the company is expected to just about break even in the fourth quarter. Revenues are likely to come in below $1.4 billion in the fiscal ended Feb 28, 2017. At its peak, the smartphone pioneer had been raking in revenues of over $5.5 billion a quarter.
Currently, BlackBerry’s shares are down 0.4% at C$9.40, while the benchmark Canadian share index (GSPTSE) is up 0.3%.
Shares of SK Telecom gained over 19% on a year-to-date basis.
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BlackBerry (BBRY) Focuses on Software to Regain Lost Glory
Canadian handset manufacturer BlackBerry Ltd. had been grappling with declining sales in its handset business, following which it exited the smartphone business. However, the company’s software business has failed to build hope among investors so far.
The company, scheduled to report its fourth-quarter and full-year results on Mar 31, claims to have no major shortcoming in its software portfolio. In order to strengthen its position in the software business, BlackBerry recently made a string of acquisitions. However, the company acknowledges the need for more work in order to introduce its software offerings in the healthcare and automotive industries.
Chief Executive Officer of BlackBerry, John Chen, intends to boost sales to a level where it will account for 30% of software revenues, as per BlackBerry’s target for the recently completed fiscal.
BlackBerry has an enterprise-value-to-forward-revenue ratio of 3.14. As per Thomson Reuters data, the ratio for its software peers Oracle Corporation (ORCL - Free Report) and Microsoft Corporation (MSFT - Free Report) is around 4.5.
According to Thomson Reuters I/B/E/S estimates, the company is expected to just about break even in the fourth quarter. Revenues are likely to come in below $1.4 billion in the fiscal ended Feb 28, 2017. At its peak, the smartphone pioneer had been raking in revenues of over $5.5 billion a quarter.
Currently, BlackBerry’s shares are down 0.4% at C$9.40, while the benchmark Canadian share index (GSPTSE) is up 0.3%.
BlackBerry Limited Price
BlackBerry Limited Price | BlackBerry Limited Quote
Zacks Rank & Key Pick
BlackBerry currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the telecom sector is SK Telecom Co., Ltd. (SKM - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SK Telecom gained over 19% on a year-to-date basis.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>