The delay comes as negotiations about the government's access to users' data persist, Reuters reports.
In July, the Pakistan Telecommunication Authority (PTA) told BlackBerry that it needed access to its BlackBerry Enterprise Services, which encrypts data, Reuters adds. If BlackBerry did not comply, the PTA would require it to shut down by November 30.
The organization announced today that it has extended the deadline by one month.
"The level of access is still under discussion," Ismail Shah, chairman of the PTA, told Reuters. "We can extend the deadline and they can continue to work until then."
BlackBerry is a provider of mobile communications and services based in Waterloo, Canada.
Separately, TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- Net operating cash flow has declined marginally to $110.00 million or 4.34% when compared to the same quarter last year. In conjunction, when comparing current results to the industry average, BLACKBERRY LTD has marginally lower results.
- BBRY has underperformed the S&P 500 Index, declining 23.65% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
- The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Computers & Peripherals industry and the overall market, BLACKBERRY LTD's return on equity significantly trails that of both the industry average and the S&P 500.
- The revenue fell significantly faster than the industry average of 25.2%. Since the same quarter one year prior, revenues fell by 46.4%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
- The gross profit margin for BLACKBERRY LTD is rather high; currently it is at 60.29%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, BBRY's net profit margin of 10.38% significantly trails the industry average.
- You can view the full analysis from the report here: BBRY
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.