BlackBerry Q2 financials show signs of turnaround
Company sees strong performance in software, services, hardware
Canadian smartphone maker BlackBerry showed signs of a long-awaited turnaround on Friday as the company reported shrinking losses for the second quarter.
BlackBerry shares were up 4% on the news that its software and services businesses were thriving, and that its struggling smartphone unit was showing signs of recovery.
"This is the first time in a long time that we have actually made money on hardware," CEO John Chen told media. "We think we can continue on that track, so hardware is no longer going to be a drag to the margin and the earnings."
The company launched its Passport handset in Dubai last week and despite its unorthodox shape the device met with a number of positive receptions from industry analysts and media. Chen said on Friday that BlackBerry had received 200,000 orders for the square-screened model, which reportedly sold out on Amazon.com within six hours.
BlackBerry also saw strong adoption rates for its device management platform in the third quarter.