BlackBerry (BB) issues update on seperation, profitability
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BlackBerry Provides Update on Progress in Separation of Divisions and Path to Profitability
February 12, 2024 5:45 PM ESTSignificant steps taken towards positive cashflow
Company is targeting $100 million of annualized net profit improvements, through a combination of cost reductions and margin expansion. This is in addition to $50 million of annualized cost saving actions disclosed in prior quarterActions to achieve approximately $55 million of the $100 million annualized target have been identified and are being implemented in the current quarterCompany continues to expect sequential improvements to operating cash flow usage in the current quarter and to be operating cash flow... More