BlackBerry Posts Fourth-Quarter Profit on Licensing and IP Boost

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BlackBerry Posts Fourth-Quarter Profit on Licensing and IP Boost

Canada's BlackBerry reported a fourth-quarter profit on Friday compared with a year-ago loss, benefiting from a 71 percent rise in its licensing and IP revenue as it filed for more patents for its technologies.

Licensing and IP revenue, which also includes handing out licenses for BlackBerry's existing patents to other companies, rose to $99 million (roughly Rs. 685 crores) in the fourth quarter ended February 28, from $58 million a year earlier.

The company, which dominated the smartphone market nearly a decade ago before losing out to Apple Inc's iPhones and Android devices, has been trying to win investor confidence and make money by selling software to manage mobile devices to corporations and government agencies.

BlackBerry's net profit was $51 million, or 8 cents per share, in the quarter, compared with a loss of $10 million, or 6 cents per share, a year ago.

Revenue rose to $255 million from $233 million.

US-listed shares of the company rose 4.7 percent to $9.30 before the opening bell.

© Thomson Reuters 2019

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