Friday, May 22nd21.9°C
26412
25546

BlackBerry turns profit in fourth quarter

BlackBerry (TSX:BB) rose to a profit in its fourth quarter as the smartphone maker reported the first glimpse of how its latest touchscreen smartphone is being received by customers.

But the results also showed its loyal subscriber base is waning.

The Waterloo, Ont.-based company reported a profit of US$98 million or 19 cents per share for quarter ended March 2, compared with $125 million or 24 cents per share loss a year ago.

The results surprised analysts who according to Thomson Reuters were expecting on average a loss of 29 cents per share from the company, which spent much of the quarter rolling out its new BlackBerry Z10 smartphone.

"We have implemented numerous changes at BlackBerry over the past year and those changes have resulted in the company returning to profitability in the fourth quarter," said president and CEO Thorsten Heins in a release.

The company shipped about one million smartphones on its new BlackBerry 10 operating system in the period, it said. That would include devices sent to retail outlets that landed in customers hands, or also have yet to be sold.

The results were the first time BlackBerry provided details on how many of its new devices were shipped in regions like Canada and the U.K., though the total does not include U.S. shipments.

Meanwhile, the company's longtime subscriber base, which had been growing until the third quarter, dropped to 76 million from 79 million, a sign that more people ditched their older Blackberry models in favour of competitor phones.

Revenue increased to $2.68 billion, coming in below expectations of $2.84 billion, according to a poll by Thomson Reuters.

The Canadian Press


Read more Business News

26416


Recent Trending




Today's Market
S&P TSX15200.76-2.85
S&P CDNX703.48+2.97
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8142-0.0053
Gold1205.70+1.30
Oil57.45-1.98
Lumber273.30+3.70
Natural Gas2.885-0.064

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.03
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.01
Russel Metals25.79-0.03
Copper Mountain Mining1.38-0.03
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



25608

FEATURED Property
22990392108-1075 Sunset Drive
2 bedrooms 2 baths
$628,888
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_



26363

26418


Member of BC Press Council


25895