Blackberry Posts Surprise Profit, But Revenue Drops By 2% In Q4

BlackBerry reported it’s earning for the quarter and fiscal year that ended on March 2, 2013 with an income of $94 million on a revenue of $2.7 billion, 2% down from the previous quarter and 36% down from $4.2 billion in the same quarter of fiscal 2012.

Q4 Highlights:

  • Revenue of $2.7 billion.
  • GAAP income from continuing operations of $94 million, or $0.18 per share diluted.
  • Adjusted income from continuing operations of $114 million, or $0.22 per share diluted.
  • Gross margin of 40% driven by higher average selling prices and hardware margins.
  • Shipments of 6 million smartphones, including approximately 1 million BlackBerry 10 units.
  • Subscriber base of approximately 76 million.
  • Cash flow from operations of $219 million, cash and investments balance of $2.9 billion.

According to BlackBerry, the company has shipped 6 million smartphones during the three months then ended March 2, 2013, which included around 1 million BlackBerry Z10 smartphones.

The company has announced that it will be increasing it’s marketing investment on the first quarter of fiscal 2014 in support of the global launch of BlackBerry Z10.

The company also announced that Mike Lazaridis has decided to retire as Vice Chairman and as the Director of the company.

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