As it turns out, giving up on smartphones was a good move for BlackBerry. Due to recent record software sales, the Waterloo, Ontario-based tech company is looking into buying companies that focus on cyber security, as well as automotive and enterprise management.
This is excellent news for BlackBerry, which recently beat analysts’ expectations, according to The Vancouver Sun. The publication explains that not only did BlackBerry break even, it made “a profit of $26 million or 5 cents per share excluding some items for the three months ending Aug. 31.”
This good news comes only a year after BlackBerry threw in the towel in the handset game. In that year, BlackBerry has focused on other aspects of its business, such as its reputation for high security.
CEO John Chen has said that some of his company’s success comes from contracts with the U.S government. According to the Sun, “BlackBerry had 23 transactions over US$100,000, seven larger $500,000 and five over $1 million with federal agencies in the last quarter.” On top of that, BlackBerry’s biggest cash cow has been in enterprise software.
Chen has also stated to the press that he doesn’t “see a limit in [BlackBerry’s] ability to license software technology.” So the future is looking bright for BlackBerry.