BlackBerry Q4 revenue falls 32%, bottom line improves from year-earlier loss
Posted March 27, 2015 9:16 am.
Last Updated March 30, 2015 6:59 am.
This article is more than 5 years old.
BlackBerry Ltd. squeezed out a small profit in the fourth quarter, surprising analysts but still coming in short of expectations with lower revenue.
The Waterloo, Ont.-based technology company, which reports in U.S. dollars, said its net income rose to US$28 million or five cents per share, which compared with a loss of $423 million a year earlier.
Adjusted earnings were US$20 million, or four cents a share, beating analyst estimates of a loss of four cents per share.
The results were less impressive in BlackBerry’s revenue, which dropped 32 per cent from a year ago to $660 million, coming in well short of analyst expectations for $786 million.
The pressure came from several directions, as the company’s hardware sales continued to stumble and it accounted for a US$12-million hit from currency fluctuations.
About 1.6 million BlackBerrys were sold to customers in the quarter, a figure that includes revenue recognition on early sales of the Classic model, a throwback to its popular older smartphones with an updated design and features which launched in December.
