BlackBerry Ltd (NASDAQ:BBRY)’s Chief Executive John Chen released a statement saying that he was confident with the strategy and progress seen in the firm. He particularly notes the double-digit growth in the software and licensing revenue over four consecutive quarters. The company posted sixth consecutive quarter of positive free cash flow.
The company is investing organically via acquisition of Good and AtHoc and also through new products and services that is based on the BES platform. The company is focusing on adding profit from its handset business. Chen also confirmed the launch of Priv, an Android device aiming to protect customers’ privacy.
BlackBerry Ltd (NASDAQ:BBRY) has released its financial report for the second quarter period ended August 29, 2015. The company’s non-GAAP revenues for the fiscal 2016 second quarter amounted to $491 million while the GAAP revenue was $490 million.
The GAAP revenue matches the deferred revenue accounting write down associated with the WatchDox buyout. The software and services business brought in 15% of the revenue while the hardware business accounted for 41%. The company’s service access fees brought in 43% of the total revenue. The firm was also able to acquire2,400 enterprise customer deals in the 3-month period. 60% of the licenses tied to these deals were cross platform.
Blackberry’s hardware revenue came from the sale of more than 800,000 smartphones with an average selling price of $240. The company’s Non-GAAP loss for the quarter added up to $66 million or an equivalent of $0.13 per share. The firm’s quarterly net income was$51million or an equivalent of $0.10 per share.
The net income includes the impact of earlier mentioned non-cash gains. The net income is also influenced by the non-cash credit caused by the change in fair value of debentures worth $228 million.The pre-tax charges added up to $85 million especially due to the restructuring. $11 million was set aside for acquired intangibles while the stock compensation amounted to $14 million.
Blackberry’s total cash including the short-term investments, cash equivalents, and the long-term equivalents as of August 29, 2015, were $3.35 billion. The company’s bank balance grew by $37 million in the second quarter, but there was a 6 million shares repurchase, raising the total to $47 million. The firm registered a net cash balance of $2.1 billion at the end of the quarter minus the face value debt of $1.25 billion. The company’s operating cash flow for the quarter totaled $110 million.