In an article on Time, it was reported that BlackBerry Ltd (NASDAQ:BBRY) is facing serious problems in terms of revenue but the company CEO has a unique ability to keep the investors hopeful and turn the trends around with his media appearances. The latest quarterly earnings have missed the analysts’ expectations. BlackBerry Ltd (NASDAQ:BBRY) Passport failed to show the expected results and its revenues fell 24% to $361 million. The company has recently released its BlackBerry Ltd (NASDAQ:BBRY) Classic phone and John Chen is again telling media and investors that new devices will give Blackberry piles of revenue.
The source said that when recent quarterly report was released, BlackBerry Ltd (NASDAQ:BBRY) stock came down by 10%. But the CEO came to media and explained some reason; within hours, the stock started getting to good position.
BlackBerry Ltd (NASDAQ:BBRY) has claimed that it sold 1.9 million devices this quarter and sold around 200,000 BlackBerry Ltd (NASDAQ:BBRY) Passport devices. Chen said that as these numbers were not inculcated in the quarter, the overall effect was bad. He said that the latest Blackberry Classic has also got a massive surge in orders and it will cross Passport sales.
BlackBerry Ltd (NASDAQ:BBRY) is pushing hard in software platform. It has rolled out BES12 platform for banks and enterprises instead of general public in order to get targeted and focused customer base. The company is facing tough times in the services domain.
BlackBerry Ltd (NASDAQ:BBRY) has a software revenue of around $250 million annually. John Chen said claimed that the company would turn it double in the coming year.
Spencer M. Waxman’s Shannon River Fund Management owns 4 million shares of BlackBerry Ltd (NASDAQ:BBRY).