BlackBerry Reports Sub-$1B Quarterly Revenue for Q4, Brings Back BlackBerry Bold Smartphone
March 28, 2014 2:16 PM
comment(s) - last by
This is the first time BlackBerry has had less than $1 billion in quarterly revenue since 2007.
BlackBerry is in the midst of an eight-quarter turnaround that doesn't expect to see company profitability again until 2016, so the fact that the fourth quarter earnings report shows
and slashed revenues probably isn't too surprising. But what may surprise you is BlackBerry CEO John Chen's new device strategy for a BB comeback.
BlackBerry reported revenues of $976 million in
, which was down 64 percent from the $2.7 billion it reported in the year-ago quarter. This is also the first time BlackBerry has had less than $1 billion in quarterly revenue since 2007.
BlackBerry's loss was $42 million for the quarter, which was down from the $94 million it earned a year previous. BlackBerry still has about $2.7 billion in the bank, but that's down $500 million from what it had last quarter.
To top it off, BlackBerry only sold 3.4 million smartphones for the holiday quarter, and 2.3 million of them were running older BlackBerry operating systems -- not the new BlackBerry 10 OS.
One highlight is that operating expenses are down 51 percent compared to the year-ago quarter.
"I am very pleased with our progress and execution in fiscal Q4 against the strategy we laid out three months ago. We have significantly streamlined operations, allowing us to reach our expense reduction target one quarter ahead of schedule," said Chen. "BlackBerry is on sounder financial footing today with a path to returning to growth and profitability."
Oh hey, remember us? [SOURCE: CrackBerry]
While Chen seems optimistic about the future of BlackBerry, he's looking to the past for answers. More specifically, Chen's next big move in the realm of BlackBerry devices is to relaunch the
, which is a smartphone the company previously released in 2011.
"Our customers still love the BB OS device, particularly BB7 devices," said Chen. "We’ll continue to make these devices available and support the operating system as long as there is customer demand."
The re-release of the Bold is part of Chen's focus on great keyboards and messaging features. However, the Bold wasn't so great with Web browsing and taking pictures -- which are two incredibly popular features of today's smartphones.
It's not clear where Bold will be sold exactly, but Chen added that a new manufacturing partner will make it so the antiquated phone will be sold at a profit.
Aside from bringing back old faces, Chen said there are three new smartphone designs in the making, which feature keyboards and will be introduced over the next 18 months. The BlackBerry Classic will make its way to market in Q4 2014.
BlackBerry has been plagued with troubles ever since Google's Android and Apple products have taken over the consumer market (and the 2011 outage that affected BlackBerry customers around the world didn't help, either). BlackBerry has since not only been pushed out of consumer competition, but also got the boot from many government agencies and corporate offices, which were areas that BlackBerry traditionally held down.
BlackBerry is still present in some important places, though, such as the White House. However, it was recently reported that President Barack Obama might
give up his BlackBerry
if testing with Android devices goes well.
This article is over a month old, voting and posting comments is disabled
RE: Not to worry.
3/28/2014 3:47:43 PM
LOL... Well, to be fair, losing only $42 million this quarter is actually a pretty huge improvement over the several 100's of millions they had been losing each quarter recently.
"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)
President Barack Obama May Ditch BlackBerry in Favor of Android Smartphone
March 21, 2014, 12:24 PM
Left (Q)4 Dead: BlackBerry Posts $4.4B USD Loss, Only Ships 1.9m Phones
December 25, 2013, 11:35 PM
RIM Announces BlackBerry Bold 9900/9930 and BlackBerry OS 7
May 2, 2011, 1:00 PM
iLate: CEO Tim Cook Says Apple Watch Will Ship in April
January 28, 2015, 3:03 PM
Amazon's Fire Sale on Fire Phone Steps up in UK w/ 1-Day Sale @ $150 Unlocked
January 28, 2015, 11:53 AM
Apple Sees Record Profit of $18 Billion, Sells 74.5 Million iPhones in Q1 FY2015
January 27, 2015, 6:01 PM
Apple Might Miss High-End of Analyst Estimates, Microsoft Earnings Hint
January 27, 2015, 3:14 PM
Microsoft Smartphone Sales Up 28 Percent as Lumia Budget Models Gain Ground
January 27, 2015, 8:30 AM
Quick Note: Special 20th Anniversary PlayStation 4 Raises $128,000 for Charity
January 26, 2015, 4:14 PM
Most Popular Articles
Under the Hood: How DirectX 11.3 and 12 Will Supercharge Windows 10 Gaming
January 23, 2015, 12:34 PM
Microsoft Shows Off Latest Windows 10 Build, Preps it for Next Week Release
January 21, 2015, 2:57 PM
BlackBerry CEO Claims Devs are Violating Net Neutrality by Not Supporting BB10
January 22, 2015, 4:37 PM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
Will Google Become America's Fifth Major Carrier?
January 22, 2015, 12:42 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information