BlackBerry posts $23m profit as revamping of firm pays off /THE CANADIAN PRESS WATERLOO, ONT. — BlackBerry delivered a surprise to investors, earning a $23-million profit in its most recent quarter as its efforts to remodel its smartphone business made some headway. Shares in BlackBerry jumped 10.8 per cent, or 97 cents, to $9.97 in noon trading on the Toronto Stock Exchange on Thursday. BlackBerry chief executive John Chen stood before shareholders for the first time on Thursday and assured them the smartphone company has plenty of ideas to ensure its survival. “Everything BlackBerry does is about security — we will not lose that fight, he said at the company’s annual meeting in Waterloo. After months of working to improve BlackBerry’s financial results, Chen offered a preview of what’s next for the technology firm, which included a few new devices and a plan to focus more on the future of its services business. He lifted the veil on a new keyboard smartphone called the Passport, which features one fewer row of keys and a screen that fits more characters per row. A cloud-based service from its QNX division, which develops technology for automobiles, is also part of a plan for the company to dive into the “Internet of Things, a buzzy phrase that has been used to describe technology that connects objects to wireless networks and can be done through smartphones. “This is going to be a huge trend in five years and we’re going to build up to it , he said. Chen has said he aims to make BlackBerry a break-even company by the end of the fiscal year with a target of rising to profitability in its 2016 financial year
Posted on: Fri, 20 Jun 2014 15:47:09 +0000
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