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BlackBerry’s software growth disappoints investors

BlackBerry keeps a low profile these days, but sadly not because its troubles are over. Its shares fell by as much as 10%, their biggest intraday drop for a year, on news that growth in software revenues was weaker than expected. The company, which has pinned its survival on a shift from the devices which made it famous, to enterprise software, blamed the weak performance on a change in accounting standards. But the markets reacted badly anyway. Software revenue was $83m in the first quarter, 18% down year-on-year, and well down on analyst estimates of $106m. CEO John Chen said the gap between expectation and reality was because of a change in the company’s accounting standards. He said BlackBerry would…

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