BlackBerry in talks to sell mobile patents
Mobile technology legend blackberry Reported this afternoon Fiscal Q4 revenue that fell short of analyst expectations, and profit that was in line with consensus, and said it was talking with the North American company about selling patents from its portfolio related to mobile technology.
The report sent BlackBerry shares down nearly 3% in late trading.
Referring to the company’s operating system software, CEO John Chen commented that the fiscal year just ended “has been an extraordinary year to navigate,” however, despite new challenges from the global chip shortage, QNX Is pleased with the continued recovery of.
Chen added, “QNX now has design wins with 23 of the world’s top 25 electric vehicle OEMs and is sure to return to normal revenue run rate by mid-finance 2022.
We are seeing tangible signs that our efforts and market reforms are beginning to stop and have positive effects. This quarter we generated strong sequential billing growth for our software and services businesses, including significant improvements for both Spark and QNX. The total bills are back to pre-epidemic levels.
Chen said the company’s revenue to sell the patent portfolio was reduced by negotiations during the quarter:
During the quarter, BlackBerry entered into an exclusive conversation with a North American entity for the potential sale of part of its patent portfolio primarily related to mobile devices, messaging and wireless networking. The company has limited its patent monetization activities due to ongoing negotiations. If the company was not in talks during the quarter, we believe licensing revenue would have been higher.
Revenue fell to $ 215 million in the three months ended in January, making a net profit of 3 cents per share.
This revenue number was below the company’s own forecast on December 17, and below the average analyst estimate for $ 244.8 million. Analysts had made a profit of 3 cents per share.
The company said revenue from licenses and “others” totaled $ 50 million in the quarter
BlackBerry plans to present its outlook on the company’s earnings conference call starting at 5:30 pm today. Wall Street is modeling $ 238.2 million and 2-percent profit per share this quarter, and for the full year, $ 1.019 billion in revenue and 13-percent profit per share.