BlackBerry Ltd getting ‘disappointing’ traction for BES12 software

BlackBerry's fourth-quarter results are expected to cap the worst three-month sales performance for the company since 2006.

Even analysts who initially bought the hype that John Chen would orchestrate the astounding comeback of?beleaguered BlackBerry Ltd. are beginning to change their tune.

Nomura Securities analyst Stuart Jeffrey is toning down his “positive bias” for the long-term prospects of the Waterloo, Ont.-based company, citing what seems to be “disappointing” traction for BlackBerry’s BES12 enterprise software in the hotly contested banking sector and “reduced confidence” within the number of free EZ Pass licences that it has upgraded into paying gold licences.

“Being tempted by BlackBerry\’s turnaround in the past quarters we\’re turning more cautious,” Mr. Jeffrey said in a note to clients. “While near-term dynamics into the May and August quarter can be strong, we are increasingly concerned that this could prove temporary.”


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