BlackBerry released its third quarter 2014 earnings on Friday, just days after it launched its brand new BlackBerry Classic smartphone, a new device it hopes will cater to folks still hanging on to the older-style BlackBerry devices.
In the earnings report, BlackBerry said it sold about 1.9 million smartphones during the third quarter of this year. That included "shipments made and recognized prior to the third quarter and which reduced the Company's inventory in channel," however.
BlackBerry reported total revenue of $793 million — below Wall Street's expectations — and a $16 million non-GAAP profit. Hardware sales contributed to 46 percent of its revenues. Meanwhile, BlackBerry's services contributed to 46 percent of the revenue, too, while software and other revenue combined built up the remaining 8 percent. BlackBerry now has $3.1 billion in cash and cash equivalents in the bank.
"We achieved a key milestone in our eight quarter plan with positive cash flow," BlackBerry CEO John Chen said. "We also attained another important milestone in the release of our new enterprise software products and devices Our focus now turns to expanding our distribution and driving revenue growth."
Considering the earnings show that hardware and services are big drivers of revenue, we expect the company will continue to try to push its products and services moving forward.