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BlackBerry Returns to Profitability in Fiscal Q4

by Todd Haselton | March 28, 2013March 28, 2013 7:00 am PDT

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BlackBerry released its fiscal fourth quarter results early Thursday morning and surprised the street by announcing it has returned to profitability. The company posted $2.7 billion in revenue and earnings per share of $0.22, beating Wall Street estimates that BlackBerry was actually going to post a loss.

“We have implemented numerous changes at BlackBerry over the past year and those changes have resulted in the Company returning to profitability in the fourth quarter,” said Thorsten Heins, President and CEO. “With the launch of BlackBerry 10, we have introduced the newest and what we believe to be the most innovative mobile computing platform in the market today. Customers love the device and the user experience, and our teams and partners are now focused on getting those devices into the hands of BlackBerry consumer and enterprise customers.”

BlackBerry shipped 6 million smartphones during the quarter, one million of which run its new BlackBerry 10 operating system. The company has a subscriber base of 76 million customers, down 3 million from the previous quarter.

The company also noted that long time executive Mike Lazaridis, once the co-CEO of Research In Motion, is leaving the firm on May 1.

BlackBerry (PDF) Ottawa Citizen

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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