Blackberry quarterly revenue falls to lowest in almost a decade in the fourth quarter
The figures
Blackberry has posted profit in the fourth quarter of four cents per share, or $20m, a turnaround on the last quarter when it made a loss of eight cents per share.
The Canadian tech company was ahead of expectation – a loss of four cents per share had been expected.
However, revenue fell 47 per cent to $660m, down from $976m a year ago, below expectations of $800m, and its lowest revenue since pre-iPhone 2006.
It took a $12m negative impact due to currency fluctuations.
Some 1.6m smartphones were sold and devices made up 42 per cent of sales. Sales of services account for 47 per cent while software was a 10 per cent share and grew 20 per cent on the previous quarter to $67m.
Full-year revenue came in at $3.33bn for 2015, more than halved compared to the previous year's $6.81bn.
Shares edged up in out of hours trading.
Why it's interesting
The woes of Blackberry are well documented. From smartphone king to yesterday's thing, the Canada-based company famous for introducing the qwerty keyboard to the mobile phone is attempting to turn things around with new products, a greater focus on software and major cost-cutting under new chief John Chen.
What Blackberry said
From Chen:
The second half of our turnaround focuses on stabilization of revenue with sustainable profitability and cash generation.
In short
Revenues disappointed severely and despite growth of its software business, it still accounts for just a small fraction of the "Crackberry" maker's sales. Chen clearly still has work to do.