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BlackBerry Limited, a leader in mobile communication, and best known as the developer of the renowned BlackBerry sm...
BlackBerry Limited, a leader in mobile communication, and best known as the developer of the renowned BlackBerry smartphones and tablets, released its fourth quarter earnings report, and year-end fiscal 2014 results on Friday.
BlackBerry reported nearly $976 million revenue for Q4 of fiscal 2014, which is 64% less than $2.7 billion revenue of same quarter for fiscal 2013. BlackBerry's Q4 revenue came from hardware (37%), services (56%), and software and other (7%). According to BlackBerry, the company sold around 3.4 million smartphones in Q4, 2.3 million of which were an older device model.
BlackBerry also reported a net loss of $423 million, or 80 cents per share, in the Q4, from a profit of $98 million made in the same quarter last year. Fourth quarter loss from continuing operations was $423 million, or $0.80 per share, from a profit of $94 million made last year in the same quarter.
Despite the 64% revenue decline in Q4 of fiscal 2014, BlackBerry's CEO, John Chen, states, "I am very pleased with our progress and execution in fiscal Q4 against the strategy we laid out three months ago." BlackBerry's CEO is very enthusiastic, saying, “There’s no doubt in my mind the revenue will come -- no doubt. When will that happen? Probably not fiscal year 2015. Probably more like fiscal year 2016, when our yield and margin are stable and our revenue growth kick us into profitability.”
Back by popular demand--BlackBerry also announced the comeback of the Bold. This qwerty keyboard smartphone runs BlackBerry 7 OS, and boasts a strong messaging service. John Chen believes that business customers still find the BlackBerry Bold appealing, as it is famous for its physical keyboard. Chen believes that BlackBerry will be able to reach revenue growth via its instant messaging, i.e., the BlackBerry Messenger, which now has about 85 million users. Chen wants to make the BBM more secure, so that users in the business and finance industry could make use of it once again.