BlackBerry's fiscal fourth quarter ended on March 1, 2014 and it was not a good quarter. BlackBerry suffered a $423 million net loss for the quarter. Revenue for the quarter was only $976 million compared to $2.7 billion in the same quarter last year. That represents a 67% loss year over year.
The BlackBerry "turnaround" is under way, but profitability is still off in the future. The bottom line is the company needs to sell more phones. BlackBerry only sold 3.4 million devices during the quarter compared to 6 million the prior year.
The company has $2.7 billion in cash and reserves, but it has been burning through cash fairly rapidly. The company had $3.2 billion a year ago.
Recent real estate sales should help, as well as BlackBerry's recent BBM roadmap announcement. If the company can open new income streams via BBM, it will buy them more time to figure out a strategy for BlackBerry devices.
The BlackBerry "turnaround" is under way, but profitability is still off in the future. The bottom line is the company needs to sell more phones. BlackBerry only sold 3.4 million devices during the quarter compared to 6 million the prior year.
The company has $2.7 billion in cash and reserves, but it has been burning through cash fairly rapidly. The company had $3.2 billion a year ago.
Recent real estate sales should help, as well as BlackBerry's recent BBM roadmap announcement. If the company can open new income streams via BBM, it will buy them more time to figure out a strategy for BlackBerry devices.