Canadian manufacturer posted loss of $89 million as quarterly revenue fell 31 per cent YOY to $548 million
BlackBerry posted a quarterly loss of $89 million for the three months ending November 28, but saw its revenue grow by quarter for the first time in more than two years.
The Canadian manufacturer showed signs of a turnaround after posting Q3 revenue of $548 million, up 12 per cent on the previous quart but down 31 per cent year-on-year.
It saw revenue from its software and services business grow by 183 per cent YOY to $162 million, making up 29 per cent of the manufacturers revenue for the period.
Hardware sales still made up the bulk of BlackBerry’s business (40 per cent) although the manufacturer did not disclose how many handsets it sold.
BlackBerry said it had 2,713 enterprise customer wins in the quarter and approximately 70 per cent of third quarter software revenue was recurring.
BlackBerry CEO John Chen said: “I am pleased with our continued progress on BlackBerry’s strategic priorities, leading to 14 per cent sequential growth in total revenue for Q3. We delivered accelerating growth in enterprise software and higher revenue across all of our areas of focus.”
“Our new PRIV device has been well received since its launch in November, and we are expanding distribution to additional carriers around the world in the next several quarters.
“BlackBerry has a solid financial foundation, and we are executing well. To sustain our current direction, we are stepping up investments to drive continued software growth and the additional PRIV launches. I anticipate this will result in sequential revenue growth in our software, hardware and messaging businesses in Q4.”