View Poll Results: Did you buy shares ?

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  • Yes, I'm acting now !

    694 62.52%
  • No

    416 37.48%
  1. Superfly_FR's Avatar
    I would like to print a word that reflects the color of the stock right now but I won't because it'll upset some of you, especially our beloved tutor, and I don't want that, do I ?
    Have a great day gang, going to Neil Young's concert in Paris tonight !
    06-23-16 12:10 PM
  2. Corbu's Avatar
    BNN - Watch TV Online | BlackBerry CEO Chen: We want to license to other phonemakers

    Thu, Jun 23, 2016 - 12:10 PM
    The CEO of BlackBerry says he's looking to license the company's software to other phonemakers as part of his turnaround plan. For more on this, BNN spoke with John Chen, CEO, BlackBerry.
    morganplus8, W Hoa, sidhuk and 7 others like this.
    06-23-16 12:31 PM
  3. Corbu's Avatar
    BNN - Watch TV Online | As handsets weaken, should BlackBerry hang up the phone?

    Thu, Jun 23, 2016 - 12:40 PM
    Handset sales continue to slide at BlackBerry as enterprise software takes the lead at the company. For more on this and whether BlackBerry should simply hang up the phone, BNN is joined by David Garrity, Principal, GVA Research.
    06-23-16 12:32 PM
  4. morganplus8's Avatar
    What a great day, Chen was on the mark, the CFO rocked it, both answered all questions well and the numbers were solid. I don't care if they sell 1 phone or 50,000,000 phones if they don't turn a profit. The bottom line is all that matters and Chen is reducing costs rapidly. I couldn't be more surprised at how well that went. Even the bears and MM's have nothing to go after here. The 50-dma is at $ 7.00/shr and we are looking to move above that now. I liked everything Chen said, why buy MOBL when you can close them down? If I were a Fund Manager I would be a buyer of the stock here, I can't fault them on anything today. Yesterday we voted to keep Chen and his team, today we got numbers and very compiling software/services numbers at that. Many more questions related to this area of the business and far less comments made regarding hardware. I would think we will see a couple of upgrades after this Q and it looks to be the beginning of a more positive outlook for the balance of the fiscal year. Big improvement Chen!
    06-23-16 12:32 PM
  5. Corbu's Avatar
    Hey guys!

    Considering this morning's results, have you got any more questions? Do you care to reconsider some of your previous ones? M8, anything you would like to know or see answered?

    Let me know before 8 PM EST please. Thanks.
    morganplus8, sidhuk and rarsen like this.
    06-23-16 01:51 PM
  6. Corbu's Avatar
    06-23-16 02:55 PM
  7. chrysaurora's Avatar
    Hey guys!

    Considering this morning's results, have you got any more questions? Do you care to reconsider some of your previous ones? M8, anything you would like to know or see answered?

    Let me know before 8 PM EST please. Thanks.
    1. I've heard about mid-priced device coming out soon. Would they also be mid-spec'd? You (BlackBerry) have already admitted to overpricing PRIV. But now if you release a mid-priced device and bump-down specs, then it'd fail (same as Priv) because then it'd be an "OVERPRICED" device among mid-spec'd devices. I hope that is being considered by your pricing team.

    Please do NOT say that your pricing team is aware. Time and again, your pricing team has made pricing disasters. So, make sure you make them aware of these things. If the device is going to be mid-priced but also mid-spec'd then you are repeating the same mistake. $500 device should have flagship specs (comparable to OnePlus3, S7 etc)

    2. You release devices after devices but spend close to ZERO on marketing (advertising) these products. Perhaps you do spend a size-able amount but you spread that amount all over the world and so each 'city' ends up receiving little to no marketing. You need to significantly increase advertising-spend in your major cities. Instead of spending $100M in 100 cities (meaning, $1M per city), perhaps you should spend $100M in 10 cities so $10M per city. 10x the previous amount.
    Corbu, CDM76 and La Emperor like this.
    06-23-16 03:29 PM
  8. cjcampbell's Avatar
    Good solid trading today. Sure, it was an up day across the market, but it seems that finally investors are starting to decouple the hardware and believe the software story. I still have my chart drawn with the inverse H&S and am curious to see if it plays out before the next ER.
    06-23-16 04:02 PM
  9. morganplus8's Avatar
    Hey guys!

    Considering this morning's results, have you got any more questions? Do you care to reconsider some of your previous ones? M8, anything you would like to know or see answered?

    Let me know before 8 PM EST please. Thanks.
    Hi Corbu!

    Thanks for looking after us here.

    I have two issues outstanding:

    1) How much Convertible Bond reduction could we expect to see in the Fall and what will be the criteria regarding the allocation of who the bonds will come from?
    (The reason: Prem controls whether the company could be sold with his ownership potential, if the largest shareholder(s) held less stock, this would open up some interest in the stock and a higher valuation in the Fall)

    2) My dream phone will have duel SIM and duel OS (BB10 & Android), is it possible from BlackBerry?

    I'm happy with how things are going right now, I think Chen has this whole thing figured out.
    Corbu, cjcampbell, sidhuk and 6 others like this.
    06-23-16 04:09 PM
  10. Corbu's Avatar
    Morgan Stanley / James E. Faucette

    June 23, 2016

    BlackBerry Ltd

    Setup to Achieve FY17 Goals

    Industry View: Cautious / Stock Rating: Equal-weight / Price Target: $7.00

    BBRY reported upside to earnings Thurs despite a shortfall in device rev expectations. Goals of being CF and EBITDA positive for FY17 appear achievable if they can make their subscale device business profitable, but focus needs to remain on LT growth drivers to replace declining SAF revenue.

    Financial management remains strong, leaving BlackBerry with meaningful flexibility. For the past couple of years BlackBerry has been able to maintain their cash balance despite missing growth forecasts (exacquisitions and licensing) and making almost $800mm of acquisitions. They have done this through financial and operational discipline under John Chen, stemming the cash flow bleed and finding ways to operate the company more efficiently (e.g. moving to ODM model, moving resources to software from hardware, restructuring agreements). Even as overall revenue growth has remained elusive, the company has been able to continue to generate cash. With a $2.5bn cash balance ($1.25bn net balance or $2.25/share), no projected cash flow drain and an ability to call the outstanding covertible bond in November, BlackBerry should still have meaningful financial flexibility (to make acquisitions, call their expensive outstanding debt, etc).

    Software portfolio still needs some work to outgrow SAF declines in the long term. Over the course of the last year, BlackBerry has more than doubled their software revenue ($166mm in 1Q17 vs. $69mm in 1Q16). The majority of this increase came from the additions of AtHoc, Good and WatchDox (acquisitions they spent nearly $700mm on). BlackBerry expects this business to grow 30% this year. While it is more difficult to draw a distinction between organic / inorganic, we estimate that the underlying software business is growing ~10%. On the other hand, the SAF businesses more than halved over the last year ($106mm in 1Q17 vs. $252mm in 1Q16), with little expectation that this deceleration will slow. With a software business growing ~10% organically and a SAF business declining faster than that, we believe BlackBerry will have to continue acquiring software assets or meaningfully increase licensing sales to stem SAF declines post FY17.

    Device profitability near, but likely not from growth in units sold. Devices revenue fell meaningfully short of our expectation ($152mm vs. MSe of $203mm). Despite this, the operating profitability of this segment was reported at around (14%) on account of work restructuring licensing and ODM agreements. John Chen mentioned at the shareholder meeting Wednesday and reiterated on the earnings call that he remains committed to making the device business profitable over the next year (expected around 3Q17). While we understand that there are certain customers who want BlackBerry to continue making devices, making getting this business breakeven important, we do not expect it (or potential for device software licensing) to be a meaningful profit driver of the company going forward.

    Revising estimates lower on top line, higher on bottom line. Our 2Q17 and FY17 revenue / EPS estimates are now $393mm / ($0.05) and $1.58bn / ($0.17) from $422mm / ($0.06) and $1.70bn / ($0.29) respectively. Our revenue estimates decline on worse than expected device sales partially offset by better than expected software growth. Our EPS estimates improve as we anticipate the company will continue to cut costs in the devices business.

    Remain EW and a $7PT as cost cuts continue to preserve optionality. Our $7 PT is 3.5x our FY18e software revenue forecast. Management continues to preserve its net cash position of ~$2.25 per share through cost cuts in light of continued struggles to achieve profitability in the devices business. We expect that the company will need to continue cutting costs especially if management continues to acquire software assets to achieve its growth targets. For the time being, the flexibility of the balance sheet and the ability to generate cash at reduced revenue levels outweigh poor business fundamentals.
    06-23-16 04:15 PM
  11. Elephant_Canyon's Avatar
    2) My dream phone will have duel SIM and duel OS
    Pistols at dawn? Ten paces, turn, and fire!
    app_Developer likes this.
    06-23-16 04:32 PM
  12. _dimi_'s Avatar
    1. JC mentioned that there won't be 'any' large acquisitions done this fiscal year. How do they plan to have higher growth rates (compared to market growth of about 15%) in let's say FY2018 if BlackBerry solely relies on organic growth? Will they settle with lesser growth rates? (You may refer to James Faucette who claims their non-acquired business is actually growing by 10%, so slower than the market)

    2. I'd like to hear more about their salesforce: locations, number, different sales forces for different products?, do they work with revenue goals, other KPI's?

    Posted via CB10
    Corbu and OlympusMons like this.
    06-23-16 05:23 PM
  13. _dimi_'s Avatar
    3. JC mentioned that, if they were selling patents, buyers would be lined up. What would be a realistic valuation (range) for their 38,000 patents?

    Posted via CB10
    Corbu, OlympusMons and La Emperor like this.
    06-23-16 05:42 PM
  14. Corbu's Avatar
    OK guys! Thanks for contributing all those questions. I will pass them along and will report with some answers ASAP.

    Cheers,
    06-23-16 08:00 PM
  15. app_Developer's Avatar
    3. JC mentioned that, if they were selling patents, buyers would be lined up. What would be a realistic valuation (range) for their 38,000 patents?
    Most patents are worth very little, so the key is somewhere in that pool of 38,000 do they have a key 1,000 or 500 or whatever that are so important to someone else that they are willing to pay billions. I think it's hard to know until someone writes that check, right?

    Obviously it could be a very significant amount of money, but I don't know how you reasonably estimate it.
    06-23-16 08:58 PM
  16. app_Developer's Avatar
    1. JC mentioned that there won't be 'any' large acquisitions done this fiscal year. How do they plan to have higher growth rates (compared to market growth of about 15%) in let's say FY2018 if BlackBerry solely relies on organic growth? Will they settle with lesser growth rates? (You may refer to James Faucette who claims their non-acquired business is actually growing by 10%, so slower than the market)

    2. I'd like to hear more about their salesforce: locations, number, different sales forces for different products?, do they work with revenue goals, other KPI's?
    I don't know why you would look at the growth of their non-acquired businesses separately now. The acquisitions have all been integrated and it's all one company now. In fact the whole point of the acquisitions was to drive growth, so it seems unfair to BB to split those out, IMO.

    I agree that the important thing is whether they deliver on 30% organic growth. They've now taken one sizable step toward that goal. I hated the BS (IMO) that they tried to sell us last year folding IP licensing into software. I'm glad to see they've moved that back out. That tells me they have confidence in their future as a software company.

    Chen is still an abysmal communicator, but listening to the call just now he seems more confident. I wish he would just call the hardware business instead of kicking that can down the road again. Other than that, though, they seem on track to a $10-$15/share sort of business in a year or so. I'm less pessimistic about BBRY than I've been in many years.
    06-23-16 09:06 PM
  17. theRock1975's Avatar
    This was a surprise! It's a good way for BlackBerry to keep their hardware design team. They'll need a strong team for the iot devices.

    The BBRY Café.  [Formerly: I support BBRY and I buy shares]-img_20160623_085408.png

    Posted via CB10
    Corbu, bbjdog, rarsen and 7 others like this.
    06-23-16 09:24 PM
  18. _dimi_'s Avatar
    I don't know why you would look at the growth of their non-acquired businesses separately now. The acquisitions have all been integrated and it's all one company now. In fact the whole point of the acquisitions was to drive growth, so it seems unfair to BB to split those out, IMO.

    I agree that the important thing is whether they deliver on 30% organic growth. They've now taken one sizable step toward that goal. I hated the BS (IMO) that they tried to sell us last year folding IP licensing into software. I'm glad to see they've moved that back out. That tells me they have confidence in their future as a software company.

    Chen is still an abysmal communicator, but listening to the call just now he seems more confident. I wish he would just call the hardware business instead of kicking that can down the road again. Other than that, though, they seem on track to a $10-$15/share sort of business in a year or so. I'm less pessimistic about BBRY than I've been in many years.
    I agree. Just would like to hear them say that THIS business combined will get them 20-30% growth for the next few years. And I'd like to hear their reaction when James Faucette is brought up.

    I also agree on the IP front. But i'd like to see if we could get any (even the slightest) comment or reaction from them regarding a valuation.

    Posted via CB10
    Superfly_FR, Corbu and La Emperor like this.
    06-23-16 09:48 PM
  19. Bacon Munchers's Avatar
    Sorry but the reason for this is not a huge jump in software sales but rather a huge decline in hardware over the years. I wish this wasn't the case but it is. I just hope if the next two rumored devices fail that they will finally wake up and smell the coffee.
    Probably because the world has it so etched into it's nogan that BlackBerry is something that fits into a hand.

    When it becomes realized that the only thing in common with today's BlackBerry versus the old is the name, then things will shape up.
    Meanwhile, we continue to get our arses handed to us on a near daily basis.

    Where are the social justice warriors when we need them?
    BlackBerry discrimination!


    Lol.
    CDM76, morganplus8, rarsen and 2 others like this.
    06-23-16 10:24 PM
  20. cjcampbell's Avatar
    Not sure who's watching the Brexit results but, well, I hope everyone was/is prepared.
    06-23-16 10:31 PM
  21. Bacon Munchers's Avatar
    Globe and Mail actually has something nice to say about BlackBerry:

    http://www.theglobeandmail.com/repor...ticle30571062/

    They even slide some humor across the table.
    Too bad Bunga isn't around to witness this unusual event.

    Might be my last post for a bit guys but thanks to everyone for the continuing effort!
    CDM76, morganplus8, sidhuk and 4 others like this.
    06-24-16 01:12 AM
  22. TGIS's Avatar
    Watch your cash today. Dow down nearly 500 in premarket, NASDAQ and the S&P down 3%. The stocks in my watchlist are about the same, with one outlier; BBRY. BBRY is down 50 cents, or 7%.
    Get ready. It's going to be a bloodbath on all fronts.
    06-24-16 04:24 AM
  23. Jahcure's Avatar
    Watch your cash today. Dow down nearly 500 in premarket, NASDAQ and the S&P down 3%. The stocks in my watchlist are about the same, with one outlier; BBRY. BBRY is down 50 cents, or 7%.
    Get ready. It's going to be a bloodbath on all fronts.
    Been waiting for this, i was accumulating cash for this boxing day stock sale.

    Posted via CB10
    06-24-16 05:17 AM
  24. Superfly_FR's Avatar
    Get ready for a massive OT ...
    Unless if you consider that's the first time I will publicly outclass my PRIV against BB10 (more to come, elsewhere in the forums).
    Guys, this device makes unbelievable (unseen by me) pictures and videos if you give it a little attention (only playing with it for a short while).
    Shall the next mid-range device offer the same level ... "Roar", I say.

    So, for you (and please, do not distribute this link), loyal gang members, here's a little gift from a place in the Free World !

    P.S: don't forget to switch HD on !
    P.P.S : This video is mostly zoomed 80-100% (seated maybe 60 meters away fron the scene) and I played a bit with zoom, focus and brightness. Sort of torture test for a camera (hopefully not leading you to seasick !) - PLAY IT LOUD AND FULL SCREEN !!!
    CDM76, rarsen, W Hoa and 6 others like this.
    06-24-16 06:02 AM
  25. Corbu's Avatar
    John Chen not giving up on creating a BlackBerry with mass consumer appeal | Financial Post

    John Chen not giving up on creating a BlackBerry with mass consumer appeal

    BlackBerry Ltd. CEO John Chen is ignoring calls to exit the hardware business and betting the leaner smartphone segment will stop losing money by September, even as revenue from the company’s software business surpassed dwindling smartphone revenue for the first time.

    The former smartphone titan posted a US$670 million net loss in the first quarter of fiscal 2017, with a US$21 million loss in the smartphone segment. But it nearly broke even when excluding a massive writedown on its shrunken smartphone business and other charges — news investors rewarded by bumping the stock up 3.6 per cent Thursday.

    Chen is frustrated that people keep asking him about hardware (he’d rather talk about the record $166 million revenue in the software segment), but as much as they call him “delusional” and “defiant” Chen said he intends to serve the customers — mostly governments — that still want BlackBerrys.

    “The last thing I would do with those customers is leave them high and dry,” he said.

    Chen believes he can make money in hardware by designing phones and outsourcing the manufacturing, and he said people will know by the start of the third quarter “whether I’m kidding myself or not.”

    “We’re no longer making any hardware, we’re a hardware design house,” he told reporters Thursday, after the company’s earnings announcement.

    BlackBerry sold 500,000 smartphones in the quarter ending May 31, compared to 600,000 last quarter, 1.1 million in the first quarter of 2016 and a peak of more than 13 million in Q1 2012. Sales have been poor for the latest device, the Android-based Priv, due to its high price tag.

    Chen previously said he needed to sell three million phones this year to break even, but he tempered that number due to his a new strategy to license software from the company’s devices, be it the hub or the power management features, to other phone manufacturers to pad the bottom line. The new initiative hasn’t made any cash yet, though Chen said he’s in talks with a manufacturer and a company that makes set-top boxes.

    He’s even willing to license BlackBerry’s security software — with the right deal, he said, “anything is possible.”

    Chen reiterated that BlackBerry has two mid-range smartphones in development that it intends to release before the end of the fiscal year. He promised to unveil more details about the devices in July, and later told reporters the cheaper of the two would have an all-touch screen.

    The new phones will be targeted to the business market until the segment is back on two feet, Chen said. But he doesn’t see BlackBerry’s future as being just a niche phone, and isn’t giving up on developing a phone that has mass appeal.

    “I wouldn’t tell anybody that I’m going to give up the consumer world,” he said.

    He told shareholders at Wednesday’s annual general meeting that his “No. 1 objective” is to return the device business to profitability, but clarified Thursday that it’s one of three top priorities, which also include the maintenance of positive cash flow and the growth of the software and service segment.

    Software revenue climbed eight per cent, a record for the segment that topped the $152 million earned from smartphones. Chen expects the software business to grow 30 per cent over the course of the year.

    The software and service business includes mobility management for enterprises, secure alert systems for organizations including the U.S. Coast Guard and the Canadian Parliament, and QNX.

    BlackBerry’s move to bundle such services has been “extremely well received” and attracted more than 560 customers, up from 90 in just 90 days, Chen said.

    Overall, BlackBerry reported quarterly revenue of US$424 million, lower than the US$470 million analysts predicted. Revenue from service access fees, the third segment of BlackBerry’s business, dropped 20 per cent and is expected to decrease another 20 per cent next quarter.

    But BlackBerry predicts a non-GAAP earnings per share loss of about US15 cents for the full year, half of the US33 cents loss analysts are predicting. Chen said this is based on high margins in the software business.
    06-24-16 07:25 AM
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