The company is depending heavily on mobile security and enterprise software as it forms a major part of the company’s new area of operation. BlackBerry is also venturing into the emerging fields of the internet of things (IoT) and autonomous driving. This is the company’s strategy to the transition plans and growth.
LIVE NOW: BlackBerry Q3 2019 results
It is expected that the results will be driven by both its BlackBerry Technology Solutions and Enterprise Software and Services businesses growth. The software and services business is likely to account for about three-fourths of total revenue in the third quarter.
For the second quarter, the company posted a 126% jump in earnings helped by lower expenses and a decline in income tax provision. Revenues dropped 12% due to a decrease in revenues from enterprise software and services, handheld devices, and service action fees.
For the fiscal year 2019, BlackBerry has expected its total software and services billings growth to be double-digits. Software and services revenue growth is predicted to be between 8% and 10% year-over-year. Adjusted earnings and free cash flow are anticipated to be positive for the full year.
Shares of BlackBerry opened higher on Tuesday and remained in the green territory. The stock has fallen over 33% in the year so far and over 27% in the past three months.