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Fri, Feb. 5, 2:56 PM
- Citing "multiple sources with knowledge of the company and the Waterloo region," MobileSyrup reports BlackBerry (BBRY -3.5%) is laying off close to 35% of its workers in the Waterloo, Ontario area, where the company's HQ resides.
- In a statement, BlackBerry suggests it's laying off "a small number" of workers in Waterloo and Sunrise, FL. A Florida regulatory filing indicates 75 Sunrise workers are being laid off. Regarding the Waterloo cuts, MobileSyrup's sources indicate "the company’s BlackBerry 10 and Devices teams were the hardest hit, [with] the latter losing approximately 150 employees." The report follows remarks from a BlackBerry exec suggesting the company might only develop Android devices going forward.
- BlackBerry stated in 2014 it had 2,700 workers around Waterloo, down from a 2011 high of 11,000. As of Feb. 2015, the company's total headcount was 6,225. Job cuts led BlackBerry's R&D spend to drop 35% Y/Y in FQ3 (the November quarter) to $100M. Sales, marketing, and admin spend, lifted by acquisitions, rose 4% to $177M.
- Shares are lower on a day the Nasdaq is down 3.3%.
- Update: BlackBerry tells Re/code it has cut 200 jobs in Canada and Florida. The company also confirms BBM founder Garry Klassen has left the company.
Mon, Feb. 1, 10:15 AM
- "The PRIV device is essentially our transition to Android ecosystem," says BlackBerry (BBRY -0.4%) product management exec Damian Tay. "As we secure Android, over a period of time, we would not have two platforms, and may have only Android as a platform [for smartphones]."
- More from Tay: "[F]or now, we have BB10 and Android platforms for our smartphones… The future is really Android. We went for Android essentially for its app ecosystem. In addition, all the enterprise solutions that we have been doing have been cross-platform for a long time now ... it’s a natural progression towards Android.”
- The remarks come after John Chen suggested at CES all of BlackBerry's 2016 phone launches (one or two devices) will involve Android phones. He also declared he's "confident in the profitability this year" for BlackBerry's phone ops, after having previously indicated he's willing to fully exit the business if it can't turn a profit.
Fri, Jan. 29, 9:19 AM
- The Toronto Stock Exchange has approved BlackBerry's (NASDAQ:BBRY) request to increase its buyback authorization by 15M shares (3% of outstanding shares) to 27M. BlackBerry adds it has "entered into an automatic purchase plan with its designated broker to allow for purchases of up to 2,685,524 common shares."
- BlackBerry announced in September (along with its FQ2 results) it's adding 15M shares to its buyback authorization. A 12M-share buyback was announced in May.
- The company notes it has repurchased 9.9M shares since June 29. As of Nov. 28, BlackBerry had $2.71B in cash and $1.25B in debt on its balance sheet.
- BBRY +2.9% premarket to $7.07. Nasdaq futures are up 0.7%.
Tue, Jan. 26, 3:32 PM
- BlackBerry(BBRY +3.2%) has launched the Good Secure EMM Suites, a product line declared to offer "a comprehensive set of mobile security, management, productivity and collaboration offerings including best-in-class app security and containerization, Identity and Access Management, and Enterprise File Sync and Share with file level data protection."
- The products include the BES12 enterprise mobility management (EMM) suite, as well as several offerings from recently-acquired Good Technology. These include the Good Dynamics mobile app platform/container, the Good Share file access/sharing solution, the Good Work e-mail/collaboration app, the Good Connect enterprise IM solution, and the Good Access secure browser. WatchDox's enterprise file sync/share solution is also included, as is support for third-party and custom apps. (another PR)
- Suite pricing ranges from $3/user/month for the Good Secure Management Suite to $25/user/month for the Good Secure Content Suite. BlackBerry is supporting both on-premise and cloud-based deployments.
- As of June 2015 (prior to the Good acquisition), Gartner placed Good in its EMM "Leaders" quadrant, along with IBM, Citrix, VMware/AirWatch, and MobileIron. BlackBerry was in the "Niche Players" quadrant, along with Landesk and Globo. Microsoft, Soti, and Sophos were in the "Visionaries" quadrant, and SAP in the "Challengers" quadrant.
Tue, Jan. 19, 11:11 AM
- BlackBerry (BBRY -2.1%) has won a multiple-year delivery order from the Department of Veterans Affairs.
- BlackBerry will deliver its AtHoc networked crisis communications platform to support the VA Notification System and VA Personnel Accountability System. (PR)
- BlackBerry acquired AtHoc in November 2015, which provided a boost to FQ3 earnings. Thanks in part to its purchases of Good Technology and AtHoc, software and services revenue rose to account for 29% of total revenues in FQ3, versus 15% in FQ2.
Fri, Jan. 8, 4:44 AM
- BlackBerry (NASDAQ:BBRY) slid to its worst day in almost a year on Thursday, in line with a broader market selloff, after CEO John Chen said the smartphone maker would unveil at least one more Android device this year.
- Shares fell 8.5% to $8.00, their biggest decline since January 2015.
- New handsets indicate more costs and less profitability in an industry where BlackBerry's global market share has slipped below 1%.
Thu, Jan. 7, 2:41 AM
- Latest Consumer Electronics Show news: BlackBerry (NASDAQ:BBRY) has unveiled plans for building autonomous car software to capture a piece of the ballooning industry.
- "We are not doing the algorithms that make decisions on driving," Blackberry's Derek Kuhn said. "We're providing the building blocks on which the electronics and automotive companies can make those decisions."
- The company wants to extend its QNX software (already used by automakers to build in-car entertainment systems) to self-driving technology, and plans to launch the product in the second quarter of 2016.
Sun, Jan. 3, 9:16 AM
- When the Centers for Disease Control and Prevention published new guidelines 18 months ago regarding the radiation risk from cellphones, it used unusually bold language: "We recommend caution in cellphone use."
- Within weeks, though, the CDC reversed course. It no longer recommended caution, and deleted a passage specifically addressing potential risks for children.
- Mainstream scientific consensus currently holds that there is little to no evidence that cellphone signals raise the risk of brain cancer or other health problems. Nevertheless, more than 500 pages of internal records obtained by NYT, along with interviews with former agency officials, reveal a debate and some disagreement among scientists and health agencies about what guidance to give as the use of mobile devices skyrockets.
- Related tickers: NOK, AAPL, BBRY, MSI, SNE, VZ, TMUS, T, S, OTC:SSNLF, OTC:HTCXF, OTCPK:ZTCOF, OTCPK:ZTCOY
Dec. 28, 2015, 8:57 AM
- Pakistan will not suspend BlackBerry's (NASDAQ:BBRY) Enterprise Service from December 30 due to security concerns, as the company has partially agreed to the government's conditions, according to ProPakistani.
- Sources said Pakistan Telecommunication Authority and BlackBerry have made formal contact and agreed to resolve the access issue through negotiations. A final decision will be made "shortly."
- Previously: BlackBerry packs out of Pakistan (Nov. 30 2015)
Dec. 18, 2015, 9:28 AM
- With the help of its acquisitions of Good Technology (closed in early November) and AtHoc, BlackBerry's (NASDAQ:BBRY) software and services revenue rose 119% Q/Q and 183% Y/Y in FQ3, and made up 29% of total revenue, up from FQ2's 15%. Service access fees (SAF) fell to 31% of revenue from 43%, and hardware/other slipped to 40% from 41%.
- Also: BlackBerry forecasts software, hardware, and messaging revenue will be up Q/Q in FQ4, aided by software investments and Priv Android phone launches at additional carriers. The company "continues to anticipate positive free cash flow and adjusted EBITDA."
- Unlike in prior quarters, no smartphone unit sales figure has been given in the earnings release. 2,713 enterprise customer wins were recorded, up from FQ2's 2,400, and 70% of software revenue was recurring.
- Regional performance: North American revenue (boosted by Good) +29% Y/Y to $275M. EMEA -47% to $194M. Asia-Pac -58% to $55M. Latin America -71% to $24M.
- Financials: Free cash flow was $15M, and op. cash flow $19M. Gross margin was 43.1% vs. 37.8% in FQ2 and 51.7% a year ago. Thanks to job cuts, GAAP R&D spend fell 35% Y/Y to $100M. Sales, marketing, and admin spend (lifted by Good) rose 4% to $177M. $10M was used to buy back 1.6M shares. BlackBerry ended FQ3 with $2.71B in cash, and $1.25B in debt.
- Shares are at $8.12 premarket.
- BlackBerry's FQ3 beat, earnings release
- Update (9:57AM ET): BlackBerry disclosed on its earnings call it recognized revenue on 700K devices in FQ2, down from 800K in FQ2. John Chen says the company is close to breaking even on hardware. Shares are now up 10.5%.
- Update 2: Thanks to the Priv, smartphone ASP rose to $315 from FQ2's $240.
Dec. 18, 2015, 7:02 AM
Dec. 17, 2015, 5:30 PM
Dec. 10, 2015, 2:24 PM
- BlackBerry (NASDAQ:BBRY) has surged on volume of 10.1M shares, soundly above a 3-month daily average of 6.3M. Possibly helping: Wal-Mart's site indicates BlackBerry's Priv Android phone is out of stock.
- BlackBerry began shipping the Priv, 5.4" display, QWERTY keyboard, Google Android, and all, to decent reviews in early November. The phone has sold in the U.S. for a steep unsubsidized price of $700.
- Today's gains come ahead of BlackBerry's Dec. 18 FQ3 report. With 78.7M shares (15% of the float) shorted as of Nov. 30, short-covering could be helping.
Dec. 3, 2015, 7:21 AM
- BlackBerry (NASDAQ:BBRY) is dumping a major feature of its enterprise software comeback plan only a year after launching it.
- Effective February 10, 2016, the BBM Meetings service will be discontinued, the company said in a blog post.
- "For customers using the service, and who wish to continue to use a mobile-first web conferencing solution, BlackBerry is pleased to facilitate a direct relationship with our preferred partner and vendor, Zoom Communications."
Nov. 30, 2015, 6:11 AM
- BlackBerry (NASDAQ:BBRY) is shutting its Pakistan operations to avoid allowing authorities in the nation to monitor its main business enterprise server and e-mail messages.
- The Pakistan Telecommunication Authority notified the country's mobile phone operators in July that BlackBerry's BES servers would no longer be allowed to operate for security reasons, Marty Beard, chief operating officer at BlackBerry, said in a blog post on Monday. "The truth is that the Pakistani government wanted the ability to monitor all BES traffic."
- Update: Since this post, Pakistan has notified BlackBerry that it has extended its shutdown order from November 30 to December 30. BlackBerry will delay its exit from the Pakistan market until then.
Nov. 17, 2015, 3:36 AM
- BlackBerry (NASDAQ:BBRY) is expecting to post a profit next year, helped by the launch of its Priv model, as the company recovers from a bruising few years that saw it lose its dominant position in the smartphone market.
- "The company is doing reasonably well now, from a financial standpoint, so now our focus is to grow our businesses," CEO John Chen told CNBC in Manila. "We still have very high fixed costs but [handset] profitability will come next year."
- For the three months ended August 29, BlackBerry reported a quarterly loss of $66M.
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