By Ketki Saxena
Investing.com -- BlackBerry (TSX:BB) has announced that its board will initiate a review of its portfolio of businesses as the company considers various strategic alternatives to drive enhanced shareholder value. This move could include the possible separation of one or more of its businesses.
According to John Chen, Executive Chairman and CEO of BlackBerry,"BlackBerry is executing on a strong, well-resourced plan to deliver revenue and ARR growth, as well as significant improvements in non-GAAP EPS and cashflow this fiscal year".
"Although we expect achievement of this plan to deliver significant shareholder benefits, we do not believe that this is fully reflected in the market's current valuation."
The board did not set a timetable for the completion of the review process.
BlackBerry also confirmed it will continue with its previously announced sale of approximately 32,000 non-core patents and patent applications.