B2B Payments

BlackBerry Q1 Enterprise Sales Lag

BlackBerry has positioned itself as a B2B company in recent years after losing traction with consumers, but its enterprise solutions don’t seem to be holding the company up high enough.

The tech company released its Q1 results Friday (June 23) and reported falling enterprise sales, one of the factors behind BlackBerry missing its quarterly forecast. According to reports, the firm received 3,000 orders from enterprise clients, compared to 3,500 orders in Q4 2016.

Q1 profits were pegged at $671 million with revenues of $235 million, down from $400 million this time last year, reports said, and shy of the $265 million in revenue forecasted for the company. Still, BlackBerry CEO John Chen remained optimistic in his statement.

“We secured key design wins in high growth segments of automotive technology, including advanced driver assist, digital instrument cluster and our hypervisor solution,” he said. “Our ecosystem is growing with Qualcomm and NVIDIA adopting BlackBerry technology for their automotive platforms.”

“Our financial foundation is solid,” Chen added.

Reports highlighted Qualcomm’s $940 million arbitration payment to BlackBerry this quarter, which boosted financials, the result of a contract dispute involving Qualcomm’s royalty cap program.

BlackBerry repositioned itself on the devices market as a B2B company after years of decline among consumers, with the competition giving way in favor of Apple and Android devices.

——————————–

Latest Insights: 

The Payments 2022 Study: Building A High-Performance Payments Team For Fraud Detection, a PYMNTS collaboration with Stripe, examines how digital platforms of all sectors and sizes plan to develop their anti-fraud teams as part of their their broader growth and development strategies. Drawing from an extensive survey from approximately 250 payments heads at digital platforms in the U.S. and abroad, our study analyzes how poor anti-fraud capabilities can harm platforms’ long-term growth strategies, and how they can build high-performing teams to tackle these challenges.

Click to comment

TRENDING RIGHT NOW

To Top