RE:BlackBerry shares fall as Chen warns of macroeconomic HWSpuds21 wrote: BlackBerry shares fall as Chen warns of macroeconomic headwinds The Waterloo, Ont.-based software company’s fiscal third-quarter revenue dropped to US$169 million, down from US$184 million in the same period last year. Its shares closed down more than nine per cent Wednesday on the Toronto Stock Exchange.
Talking point: BlackBerry CEO John Chen said on the earnings call that the “macro environment will be a headwind” in the near term, but said its cybersecurity software “remains an essential purchase” and the company could benefit from its exposure to government customers. An analyst note by CIBC Equity Research said BlackBerry’s cybersecurity business is facing longer sales cycles, while the lack of automotive production has hit its Internet-of-Things (IoT) business. Cybersecurity, which represents more than twice the revenue of the IoT unit, saw revenue fall to US$106 million, from US$128 million in the same period last year. The company said IoT revenue, which includes BlackBerry’s QNX automotive software product, rose 19 per cent. Chen added that the “macro backdrop for auto remains mixed,” with stronger prospects in key China and India markets but some tightening in North America and Europe amid “supply chain and some demand challenges.”
- Anita
I call Bvllsh!t on the kink of BlackBerry.
He stated sales bodies were increasing, yesterday and earlier this year. Once again either he has failed to execute on effective hiring or his hires are failing... jaune chien is a dud.
At this point, about the only thing keeping him in the game is his word to complete his Employment Contract. If he finds a buyer at this juncture he gets paid out, completely, on his bonuses or a minimum of $69M and Fairfax receives their $335M debenture monies + all interest due on the debenture 5 year term + a tidy 20%.
gone when and premium whazsup look like huge winners here if a sale occurs prior to November 13, 2023... shareholders meanwhile can only look forward to net proceeds of a sale... great to be jaune chien, in control of the company, knowing that likely the only way to see a full bonus payout is to sell off the company... THERE REALLY DOESN'T APPEAR TO BE A GOOD OPTION FOR SHAREHOLDERS!
Sad.
fyi todays market capitalization is $2.126B (cash + Cylance monies = MC) con chne has flushed everything.
