Business
Nostalgia calling: BlackBerry had a good quarter, but it had nothing to do with phones

Nostalgia calling: BlackBerry had a good quarter, but it had nothing to do with phones

David Crowther

BlackBerry surprised investors on Wednesday, announcing a recent quarter of profitability. But it wasn’t because of a sudden surge of phone sales inspired by the recent movie about the company. Instead it was because of a complex sale of non-core patents, netting the company some ~$218m, helping the company add to its cash reserves.

‍Nostalgia calling

‍The first device to hold the BlackBerry name came out in 1999 — a ground-breaking two-way pager capable of delivering email across multiple wireless networks. That focus on email and its workplace functionality drove the company to new heights throughout the early 2000s, with sales peaking in 2011, just as the iPhone and other touchscreen devices were going mainstream.

But sticking to the corporate market was also BlackBerry's undoing. A fractured leadership and a too-late foray into tablets and touchscreen phones (like the BlackBerry Storm) was ill-fated, and the rise of the open Android ecosystem saw the company lose ground quickly, as developers built apps for rivals. In the coming years the clickity-clack of the iconic tiny keyboards slowly faded — despite some power users, including former President Obama, clinging dearly to their BlackBerry’s.

‍The security switch

‍As businesses and governments favored BlackBerry phones for their security features, the company realized that selling this underlying software, instead of the hardware, could be a viable parachute strategy for the ailing company. The shift clearly didn’t restore revenue to its peak, its most recent sales amounted to just 3% of that high, but it did ensure the survival of the company.

Today, Blackberry's IoT (Internet of Things) business provides software into over 235 million vehicles for various functions, ranging from driver assistance to infotainment systems, while the company’s cybersecurity solutions are used by numerous mobile banking websites.

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Max Knoblauch

Netflix is down amid reports it’s leading the Warner Bros. bidding war as Paramount cries foul

Netflix’s charm offensive appears to be working.

Netflix is reportedly emerging as the leader in the bidding war for Warner Bros. Discovery after second-round bids this week, edging out entertainment juggernaut rivals Comcast and Paramount Skydance.

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

Paramount questions Warner Bros. Discovery on 'fairness and adequacy' of sale process: Read the full letter

Paramount questions Warner Bros. Discovery on 'fairness and adequacy' of sale process: Read the full letter

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

Hyunsoo Rim
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After three decades of pretty constant growth, the consultancy boom just hit an AI-shaped wall

Accenture has a new deal with OpenAI — did ChatGPT’s launch top-tick consulting employment?

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Delta says the government shutdown will cost it $200 million in Q4

The 43-day government shutdown that ended last month will result in a $200 million ding for Delta Air Lines, the airline said in a filing on Wednesday.

That’s about $100,000 per shutdown-related canceled flight. (Delta previously said it canceled more than 2,000 flights due to FAA flight reductions.) When the company reports its fourth-quarter earnings, the shutdown will lop off about $0.25 per share.

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

Delta Air Sees $200 Million Hit from Shutdown Fallout

Delta Air Sees $200 Million Hit from Shutdown Fallout

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

Tom Jones
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Netflix reportedly made a mostly cash offer for Warner Bros. Discovery over the weekend

The WBD bidding war is heating up — what will the winner get?

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With Puma’s stock under pressure, Chinese giants are circling the storied brand

With 77 years of history behind the brand, 2025 might just be Puma’s worst, as losses have piled up over the last year. At least the company’s new elite running shoe is a winner.

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