BlackBerry posts quarterly profit, 1m sales of new Z10

  • Share via facebook
  • Tweet this
  • Bookmark and Share
The Blackberry Z10 is displayed at the BlackBerry 10 launch event at Pier 36 in Manhattan (Getty Images)

The Blackberry Z10 is displayed at the BlackBerry 10 launch event at Pier 36 in Manhattan (Getty Images)

BlackBerry announced an unexpected quarterly profit on demand for the new touchscreen device that holds the key to its successful turnaround, but revenue remained far below year-earlier levels.

The smartphone maker said on Thursday that it had sold about 1 million of the new Z10 devices during the fourth quarter ended March 2. It shipped roughly 6 million smartphones in that period.

Net income in the quarter was $98 million, or 19 cents a share, compared with a year-earlier loss of $125 million, or 24 cents a share.

Shares of the Waterloo, Ontario-based company fell 1.1 percent to $14.40 in premarket trading after the results were released.

BlackBerry said it believed it would approach break-even financial results in the first quarter, based on a lower cost base, more efficient supply chain, and its improved hardware margins.

Analysts on average had been expecting a loss of 10 cents a share in the first quarter, according to Thomson Reuters.

Yet the company, which has lost market share to rivals like Apple Inc, is far from out of the woods. Quarterly revenue fell to $2.68 billion from $4.2 billion a year earlier.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Sam Dxb

The worst device ever. In my opinion it will reason for rim downfall

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
The politics of big data

The politics of big data

The UAE may be one of the fastest adopters of e-government initiatives...

Gateway to a new era

Gateway to a new era

Could Telr be the answer to start-ups’ prayers? The new three...

7 of the best accounting apps

7 of the best accounting apps

Tamara Pupic tracks down some of the best accounting apps on...

1
Most Discussed
  • 16
    Baby NOT on board?

    The people commenting here were all 20 years old when they were born, never cried, never screamed and never ran etc etc.
    more

    Thursday, 21 August 2014 8:30 AM - Amer
  • 2
    European court backs French ban on full-faced veil

    well said John Harte, it is the total opposition to freedom of expression, it degrades and dehumanizes women into objects that need to be wrapped up and... more

    Friday, 22 August 2014 6:38 PM - Polly Nicoll
  • 1
    Damac says first Akoya Oxygen homes sell out 'in record time'

    You have to be desperate to buy anything from Damac and that in the furthest farthest outposts of Dubai Land. Stay near the main Drag the SZR! more

    Saturday, 23 August 2014 1:29 AM - Special K
  • 23
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 17
    UK looks to close tax loophole on expat landlords

    UK taxes too much and too complicated and time taking and confusing and continuous. Returns, lawyers, HMRC, taxes too much for too little. Not worth the... more

    Sunday, 17 August 2014 12:40 PM - AbdolRahman
  • 16
    Baby NOT on board?

    The people commenting here were all 20 years old when they were born, never cried, never screamed and never ran etc etc.
    more

    Thursday, 21 August 2014 8:30 AM - Amer