BlackBerry reports $210 million revenue in Q2 2019 fiscal results

The company generated $5 million USD from its 'Handheld devices' division


Canadian software developer BlackBerry Limited reported a total revenue of $210 million USD (roughly $272.57 million CAD) during its second quarter 2019 financial period.

BlackBerry’s Q2 2019 revenue represents a $28 million USD (roughly $36.34 million CAD) drop in revenue compared to Q2 2018.

The company’s Q2 2019 revenue also represents a $3 million USD drop (roughly $3.89 million CAD) compared to Q1 2019.

According to the company’s September 28th, 2018 earnings document, BlackBerry generated most of its revenue — $88 million USD (roughly $114.19 million CAD) through its ‘Enterprise software and services’ division.

Interestingly enough, BlackBerry generated $56 million USD (roughly $72.66 million CAD) through its ‘Licensing, IP and other’ division.

BlackBerry Limited licenses the ‘BlackBerry’ brand name to hardware manufacturers, like Chinese manufacturer TCL and Indian manufacturer Optiemus.

Additionally, even though the company no longer manufacturer smartphones, the company’s ‘Handheld devices’ division generated $5 million USD in revenue (roughly $6.49 million CAD).

“In the quarter, we exceeded our financial expectations driven by sequential growth in both our BlackBerry Technology Solutions and Enterprise Software and Services businesses,” said John Chen, executive chairman and CEO of BlackBerry, in the same September 28th earnings document.

“I am very encouraged by BlackBerry’s leadership opportunities in the fast-growing Enterprise of Things, and by our strategy to capitalize on these significant future opportunities with BlackBerry Spark, our platform to securely communicate and collaborate between smart endpoints.”

The company’s total cash, cash equivalents, short-term and long-term investments total $2.4 billion USD (roughly $3.11 billion CAD) as of Q2 2019.

The company currently holds $605 million USD (roughly $785.06 million CAD) as face value debt. BlackBerry’s net cash balance is $1.7 billion USD (roughly $2.21 billion CAD) as of Q2 2019.

BlackBerry stock closed at $13.27 CAD on September 27th, 2018.

Source: BlackBerry Limited