BlackBerry tops estimates with its Q3 earnings report; shares soar

Where BlackBerry showed a major improvement was in software and services. Revenue for that group amounted to $162 million for the three months, up 183% from last year, and 119% from the second quarter. Acquisitions helped in this category, especially the purchase of Good Technologies.
As usual, BlackBerry continued to have plenty of cash and easily converted investments socked away for a rainy day, with $2.3 billion on the books. However, that was down from the $2.89 billion it held as the 2014 fiscal year came to an end.
"I am pleased with our continued progress on BlackBerry’s strategic priorities, leading to 14 percent sequential growth in total revenue for Q3. We delivered accelerating growth in enterprise software and higher revenue across all of our areas of focus. Our new PRIV device has been well received since its launch in November, and we are expanding distribution to additional carriers around the world in the next several quarters...BlackBerry has a solid financial foundation, and we are executing well. To sustain our current direction, we are stepping up investments to drive continued software growth and the additional PRIV launches. I anticipate this will result in sequential revenue growth in our software, hardware and messaging businesses in the fourth quarter."-John Chen, CEO, BlackBerry
Investors loved the report. Shares of BlackBerry are up more than 10% on Friday to $8.64.
source: FinancialPost, 24/7WallStreet