( David Paul Morris / Bloomberg File Photo )BlackBerry Ltd. aims to expand and modernize its distribution network to better reflect its identity as cyber security-based software vendor rather than a maker of smartphone hardware, chief executive John Chen told the company’s annual meeting of shareholders on Wednesday. Analysts expect the company to report lower revenue on tumbling hardware sales and access fees offset partially by higher enterprise mobility software sales. Credit Suisse analyst Kulbinder Garcha in a note to investors said he expects BlackBerry to report a 12.8-per-cent quarter-over-quarter revenue drop to at $259.1 million (U.S.) and adjusted earnings per share of $0.01 for the quarter. Consensus estimates are for $264.5 million in revenue and zero EPS. Garcha expects software revenues to grow 15 per cent in fiscal 2018 and 2019 as service access fees fall to nil.

Source: thestar June 21, 2017 19:07 UTC