BlackBerry Fourth Quarter Results Reveal Much Smaller Loss Than Expected

BlackBerry has published its fourth quarter results, and the company has made a much smaller loss than the previous quarter.

BlackBerry made a loss of $423 million, in the previous quarter the company made a massive loss of $4.4 billion, it overall revenue dropped to $976 million.

BlackBerry Fourth Quarter Results

The company announced that it sold a total of 3.4 million smartphones in its last financial quarter, and just 1.1 million of these were BlackBerry 10 devices, the rest were BlackBerry 7 handsets.

The company now has a total of $2.7 billion in cash, this is down from $3.2 billion for the previous quarter, and shares have risen around 6.6 percent in pre market trading since the news was announced.

It would appear that the new BlackBerry CEO, John Chen is doing something right, as he has managed to stem the companies losses in just one quarter from a massive $4.4 to just $423 million.

It will be interesting to see what BlackBerry’s position is in their next financial quarter, and whether the company will be able to turn profitable remains to be seen.

Source TechCrunch

Filed Under: Technology News