Today, Blackberry Limited (NASDAQ:$BBRY) reported a profit in its latest quarter in comparison to a loss in the 2016 period. The Waterloo-based company saw its software and service revenue reach a record high.
Blackberry Limited announced Thursday that it earned US$19 million (4 cents per basic share) in the quarter ending August 31. As a point of reference, this compares to a loss of $372 million (71 cents per basic share) in the 2016 period.
Overall revenue came to $238 million, which is down from $334 million from the same quarter in 2016. However, it is up $3 million from the quarter ended May 31.
In the quarter, software and services revenue reached $185 million. This set a record for Blackberry and hit roughly three-quarters of the total for 2017’s second quarter. CEO John Chen said Blackberry’s non-GAAP operating margin was the highest in more than five years.
“Based on our progress thus far in FY18, we are on track to achieve software and services revenue growth in the range of 10 percent to 15 percent and profitability for the full year,” Chen said.
Plus, Chen mentioned that Blackberry’s automotive business had made tremendous progress and its licensing business is starting to get more opportunities in the field.
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