BlackBerry Makes $2.7 Billion In Q4, Sells 1 Million BlackBerry Z10s


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BlackBerry 10 launched in late January as an attempt to keep BlackBerry relevant in a world dominated by Android and iOS. Did it succeed? It's still a little too early to tell, but early results are promising.

In its Q4 results, BlackBerry reports that it had shipped 6 million smartphones through March 2. Out of that lot, 1 million were the new BlackBerry Z10. To ship 1 million BlackBerry Z10s in a little less than month is no small feat, especially for a company that's recently been down on its luck.

Beyond smartphone sales, BlackBerry had a decent fourth quarter. Here's the full breakdown:

  • 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 percent driven by higher average selling prices and hardware margins
  • Subscriber base of approximately 76 million
  • Cash flow from operations of $219 million, cash and investments balance of $2.9 billion
  • The company notes that revenue is still down, but it's not bleeding cash like it once was. From Q3 to Q4, the company posted a $49 million loss, or a loss of two percent. Compare that to the $1.5 billion loss it suffered from the same quarter last year, and its current losses don't seem as bad.

    It will be interesting to see what BlackBerry's results for the current quarter look like as it has just launched the BlackBerry Z10 in the U.S. The company notes that 61 percent of its revenue comes from hardware sales, and the U.S. market might provide the kick its premium hardware needs.