It seems that BlackBerry has turned the corner as it reported a quarterly profit today – results that sent its share price up by over five percent.
Revenues however fell to $550 million for its quarter, down from $793 million in the same period last year. Net profit was £28 million, compared to a loss in the same quarter last year of $148 million.
So what’s BlackBerry doing right? It seems that CEO John Chen is keeping a close eye on expenses but its revenue from software rose 20 percent in the quarter, accounting for $67 million in revenues.
Despite its formerly impregnable position as the handheld of choice for the corporate market, sales of its more up to date models don’t appear to be particularly good.
BlackBerry is attempting to change its model from hardware and services to software.
Wall Street analysts hailed the profit figure but fretted about the revenue, which the company had estimated would be $786 million.
