October 1, 2017 · Cloud Computing · Comments Off on Equifax reviews its top lawyer's role in executive stock sales: WSJ

(Reuters) – Equifax Inc is reviewing its Chief Legal Officer John Kelly’s involvement in stock sales by company executives made weeks before the credit-reporting service disclosed a massive data breach, the Wall Street Journal reported on Sunday.

Three senior executives including the company’s chief financial officer sold $ 1.8 million in shares within three days of the company learning on July 29 that hackers had breached personal data for up to 143 million Americans.

Kelly had the responsibility for approving the share sales and is also central to broader questions facing the Equifax’s board because he is responsible for security at the company, the WSJ reported, citing people familiar with the matter. on.wsj.com/2fE8fAf

Kelley had broad responsibilities beyond legal services in his position at Equifax that differed from peers at rival credit-reporting companies, WSJ said.

Equifax was not immediately available for comment.

In a letter to the U.S. House of Representatives, made public on Friday, Equifax said its board of directors has formed a special committee to review the stock sales.

The data breach was disclosed publicly on Sept. 7 and has since sparked a public outcry, government investigations, a sharp drop in the company’s share price and a management shake-up.

Reporting by Ismail Shakil in Bengaluru; Editing by Sandra Maler

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September 28, 2017 · Cloud Computing · Comments Off on BlackBerry shares up as software sales hit record

TORONTO (Reuters) – BlackBerry Ltd reported stronger-than-expected quarterly results and increased its fiscal-year revenue forecast after sales at its closely watched software business hit a record, sending its shares up more than 7 percent in Thursday premarket trading.

The Canadian company, which last year stopped manufacturing the iconic BlackBerry smartphone to focus on software, reported a profit of 5 cents a share before special items for the second quarter ended on Aug. 31, compared with break-even per share a year earlier.

Revenue fell to $ 249 million from $ 352 million a year earlier but rose slightly from $ 244 million in the prior quarter.

Analysts had on average expected BlackBerry to break even on revenue of $ 220 million, excluding items, according to Thomson Reuters I/B/E/S.

Net income for the quarter was $ 19 million, or 4 cents per share.

Excluding restructuring costs and other items, BlackBerry said it expected fiscal-year revenue of $ 920 million to $ 950 million and positive earnings per share. It also forecast positive free cash flow.

The Waterloo, Ontario-based company is aiming to notch 10 percent to 15 percent software revenue growth for its fiscal year, which runs until the end of February.

BlackBerry said software and services revenue reached a record $ 196 million in the quarter, more than the estimates of $ 174 million from RBC analyst Paul Trieber and $ 176.2 million from Macquarie’s Gus Papageorgiou.

Reporting by Alastair Sharp; Editing by Chizu Nomiyama and Lisa Von Ahn

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