Benzinga - by MarketBeat, Benzinga Contributor.
BlackBerry Ltd (NYSE: BB) was once the leader in the smartphone segment in the mid-2000s when they were known as Research In Motion. Their BlackBerry smartphones had built-in physical keyboards and a trackball utilizing SMS technology. Its users could be identified by clicking away at the tiny keyboards and small screens throughout the day. They ushered in the early days of the smartphone era.
The Smartphone Revolution Passes By BlackBerry
Apple Inc. (NASDAQ: AAPL) Samsung Electronics Co. Ltd Palo Alto Networks Inc. (NASDAQ: PANW) Fortinet Inc. (NASDAQ: FTNT)Transitioning from Hardware to Software
This helped transition the company to ditch the hardware and embrace the software model to further claw out a niche in the mobile cybersecurity segment. They hold numerous patents in mobile security and communication protocols. In fact, Research in Motion was notorious for never-ending litigation defending its patents, often perceived as the original "patent troll."
From Patent Troll to MDM and UEM Solutions Provider
Daily Descending Triangle Pattern
Improving Fundamentals
BlackBerry reported fiscal Q4 2024 EPS of 3 cents, beating analyst expectations for a loss of 4 cents by 7 cents. Revenues grew 14.6% to $173 million, beating $150.47 million consensus estimates. Its IoT division's QNX royalty backlog rose to $815 million.
Financial Metrics for the Quarter
Momentum Cut Short by Lowered Guidance
Two Steps Forward, One Step Back
The article " BlackBerry Gains on IoT Growth, but Sours on Guidance Cut " first appeared on MarketBeat.