Friday, 25 September 2015

New Age: BlackBerry CEO says the worst is over


BlackBerry Chief Executive John Chen said the company has found the low-point of its turnaround after second-quarter revenue plummeted and smartphone shipments hit their lowest since at least 2007.
Chen reassured investors he'll bring in $500 million in software revenue by March 2016 and stabilize shrinking device sales with the help of a new phone called the "Priv" that runs Google Inc.'s Android operating system. Total revenue will rise slightly next quarter, the CEO said on a conference call Friday.

Chen spoke after Waterloo, Ontario-based BlackBerry reported a loss of 13 cents per share, excluding some items, in the period ended Aug. 29. Analysts had projected a loss of 9 cents a share, the average of 22 estimates compiled by Bloomberg.
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