|Post says BlackBerry's Chen upbeat ahead of financials|
BlackBerry Ltd (C:BB)
Shares Issued 531,475,629
Last Close 6/21/2017 $14.17
Thursday June 22 2017 - In the News
The Financial Post reports in its Thursday edition that BlackBerry chief executive officer John Chen has hinted he will reveal a vastly improved finances when quarterly results are released Friday. The Post's Emily Jackson quotes Mr. Chen as saying, "It's just going to be good," referring to BlackBerry's cash position, which got a $940-million (U.S.) influx this spring after settling a dispute with Qualcomm. BlackBerry's stock price, which has been on a hot streak in the past two months, has increased about 50 per cent since its last AGM, when handsets were still part of the company's strategy. Mr. Chen somewhat tempered expectations when it comes to growth in its now-central software businesses this year, stating he expects the company to grow "at or faster" than the estimated market growth rate of 10 to 15 per cent. In March, he cited an expected growth rate of 13 to 15 per cent. He also asked for "patience" when it comes to Radar, BlackBerry's trailer tracking system for the trucking industry, noting the industry is slow to adopt new technology. However, he touted BlackBerry's security acumen and called its QNX software division "the pride of Canada," noting it is embedded in about 60 million vehicles.