From the earnings call, it does seem that whatever strategy that John is putting into play, is working. Jim Cramer from CNBC believes that John Chen is making progress and he is the right person to count on. What about you guys? Check out the video from both parties!
Transcript for the above video:
look, there are a lot of people who turned on this company no matter what they say. now, there is revenue decline and they’re not talking about really great numbers for — until fiscal year ’16. but do you know what, let’s just hand it to tceo. there were people who felt this thing would be out of business. did you see the cash position? no, i did not. inform me. they have a ton of money, what i was most worried about and our viewers were worried about, that this thing was going to tank. it ain’t tanking. negative cash flow, right? 553 trying to get to break-even by fiscal i think ’15 as you said. total problem there, not denying it. i got to tell you, carl, when i look at the thing, do i want to buy it. no. do i think it’s going under, absolutely not. maybe that’s what a perception that it was going to go back to four five. i find that hard to believe. i don’t think it does. and there are some notable investors in the stock at this point but one wonders what constitutes a true turnaround for this company. well, they have 3.4 million blackberry smartphones were sold. look, i’m looking at the release. but to me the key line was, cash investments, balance of $2.7 billion, you can lose a lot of money and still have a lot of money. sticking to their guns in terms of the bold in some cases — yes. — saying they will work on higher-end smartphones that might roll out in 18 months that’s down the road, of course. i want to hear from there ceo. i think this ceo has game and that’s what people didn’t count on. some companies you get the right ceo they can make a mountain out of a molehill. this guy is making i’d say a hill out of a molehill. well, he did something similar at sybase and there were those when he was appointed who pointed to his previous track record and said keep an eye on him. don’t be completely morose or dour or doleful about the future. is it dore.
Second video Transcript:
you talking about here? investment in the channel. we’re building our self. we have marketing investment. we need to launch some of the folk phones. we have a phone launch in indonesia in a very short time. and then we need to invest in areas of bes 12, the enterprise bbm and build more bbm tractions. there are a number of things. when the product is going to come out in the latter half of the year like november time frame, we need to build up the capability both in engineering, marketing, as well as in the sales force. but we are going to be very moderate. everything we talk about being able to be cashflow positive by end of the year, fiscal year, and being profitable, the next fiscal year, in some quarters, is still right on. and what this release has shown that we’re definitely right on our track and maybe slightly ahead of it.