BlackBerry has announced its financial results for their first fiscal quarter of 2014, and it looks like things are starting to turn around at the company, as their smartphone sales are up on the previous quarter.
BlackBerry smartphone sales increased to 1.6 million for the quarter, this is up from 1.3 million for the previous quarter, and the company actually made a profit.
The profit in the latest financial quarter can be attributed to the sale of real estate and also a tax refund. BlackBerry made a profit of $23 million or 4 cents a share. The company would have made a loss of $60 million without the sales of assets and the tax refund.
BlackBerry CEO John Chen, who was brought in to turn the company around had the following to say about their latest financial quarter.
“Over the past six months, we have focused on improving efficiency in all aspects of our operations to drive cost reductions and margin improvement,” Mr. Chen said. “Looking forward, we are focusing on our growth plan to enable our return to profitability.”
It will be interesting to see what happens in their next financial quarter, the company still has some way to go to turn things around, although things are certainly looking better for BlackBerry, since their new CEO took over.