BlackBerry Ltd (BBRY) Revenue Will Be Steady But Late Because of Subscription Model: John Chen


In a program on CNBC, BlackBerry Ltd (NASDAQ:BBRY) CEO John Chen gave an interview and said that he is still bullish on his company despite of the massive tumble and disappointing revenues. Blackberry has recently reported a decline in sales and revenue. The declines were much larger than the estimates. The hardware sales have plummeted to $793 million whereas the expectations were around $900 million. The company has released its two news devices; BlackBerry Ltd (NASDAQ:BBRY) Classic and BlackBerry Ltd (NASDAQ:BBRY) Passport. Chen said that he expects that these products will increase the revenues and sales in the coming quarters.

BlackBerry, Roger Cheng, BlackBerry Passport, is BBRY a good stock to buy,

Chen also said that BlackBerry Ltd (NASDAQ:BBRY) is heavily focusing on software and cross platform support. The new devices have Android and iOS apps support. Answering a questions about actual sales and pre-orders of the new devices, Chen said that the new devices are being preordered at a very swift rate from the customers and the company is hopeful that Classic Phone will give massive revenues.

BlackBerry Ltd (NASDAQ:BBRY) has launched BES12 cross platform for the users who want to enjoy secure but cross platform software in their BlackBerry Ltd (NASDAQ:BBRY) devices. Chen said that people are “dying” for secure and usable mobile software and BlackBerry Ltd (NASDAQ:BBRY) is the company which is answering the call.

Chen tried to dodge the question about Sony hack and said that he is in no position to comment on anything about this because of lack of knowledge. Chen however touted that BlackBerry Ltd (NASDAQ:BBRY) hardware and software is the most secure platform in the market.

 Spencer M. Waxman’s Shannon River Fund Management owns 4 million shares of BlackBerry Ltd (NASDAQ:BBRY).

Suggested Articles:

Most Expensive Tennis Racket

Most Popular TED Talks In 2014