Shares of BlackBerry Ltd (NASDAQ:BBRY) are up more than 40% this year. However, during the last 30 days, the stock has dropped 10% as investors were disappointed with the company’s first-quarter fiscal 2018 revenue that came in below expectations. The stock has returned an impressive 43.11% year-to-date as investors believe that BlackBerry could establish itself as a leader in the security software business.
BlackBerry, now a software company, is betting on products such as cyber security shields and the QNX automobile platform. The company plans to spend around $75 million over the next few years on a self-driving car hub.
Here are some important BlackBerry updates that we think investors should know about.
BlackBerry May Be Returning t to China
Blackberry seems to be preparing to enter the Chinese market again. Recently, the Canadian tech giant launched an official WeChat account under the name BlackBerryMobile and also opened an official account on Weibo, the Chinese social networking site. The company’s China plans aren’t clear at this time. It could soon officially announce the plans and products for the Chinese market.
BlackBerry Fiscal 2018 First Quarter Results
At the end of June, BlackBerry Ltd (NASDAQ:BBRY) reported financial results for the three months ended May 31, 2017. Revenue for the first quarter was $235 million, significantly down from $400 million a year ago. The company reported a profit of $671 million, or $1.23 a share, versus a loss of $670 million, or $1.28 a share, a year earlier. The profit included a $940 million arbitration payment from Qualcomm.
Rumor: BlackBerry Might Release Another Smartphone Soon
BlackBerry released KEYone smartphone earlier this year. According to rumors, the company is preparing another smartphone that could arrive sometime this year. TLC, a Chinese company that has a license to build BlackBerry-branded devices, is said to making the new phone. According to the leaked information, the new phone will feature a screen with 1920×1080 resolution and will be powered by Qualcomm’s Snapdragon 625 processor. This is the only information available at the time.