Manufacturer’s profit is a vast improvement from the $423 million loss it made a year ago but revenue has fallen by a third over the past 12 months
BlackBerry made a $28 million profit in its fourth quarter but revenue and smartphone sales fell.
This is according to the manufacturer’s latest financial results for the three months and fiscal year ending February 28, which were published today.
The small profit made by the company was a vast improvement from the $423 million loss it made in the same quarter last year and the $148 million deficit reported in Q3.
However, it revealed revenues of $660 million for the quarter, down from $793 million in the previous three months and $976 million a year ago.
Smartphone sales also declined sequentially. BlackBerry said it sold around 1.6 million smartphones to end customers in the quarter, down from 1.9 million in Q3.
BlackBerry executive chairman and CEO John Chen (pictured) said: “Our focus this past year was on getting our financial house in order while creating a multi-year growth strategy and investing in our product portfolio. We now have a very good handle on our margins, and our product roadmaps have been well received.
“The second half of our turnaround focuses on stabilisation of revenue with sustainable profitability and cash generation.”