Technology content trusted in North America and globally since 1999
8,219 Reviews & Articles | 62,269 News Posts

BlackBerry bounces back, posts better-than-expected Q2 results

BlackBerry posts better-than-expected Q2 results, still reports a loss of $207 million
By: Anthony Garreffa | Business, Financial & Legal News | Posted: Sep 28, 2014 2:55 am

The tubes of the Internet have been filled the new two new iPhones, #BendGate, the Galaxy Note 4 coming soon, and so much more in the mobile world, so BlackBerry doesn't get the headlines that its biggest competitors do.




Well, the company has just posted better-than-expected Q2 results, but still managed to lose $207 million for the three-month period. Even with the huge loss, it's still an improvement from the previous quarter, where the company posted a loss of $965 million. After one-time items, such as charges for laying off employees and other restructuring efforts, the company said the loss was around $11 million, or $0.02 per share, beating Wall Street's forecast of $0.16 per share.


Revenue for Q2 sat at $916 million, which is represented as 46% hardware, 46% services and 8% in software and other revenue. During the three-month period, BlackBerry said it sold approximately 2.4 million smartphones to end users, which included shipments made, and recognized before Q2. BlackBerry's Executive Chairman and CEO, John Chen, said: "Our workforce restructuring is now complete, and we are focusing on revenue growth with judicious investments to further our leadership position in enterprise mobility and security".


The company has also seen an increased in its BlackBerry Messenger users, with the second quarter seeing 91 million monthly active BBM users, up from 85 million in the previous quarter. BlackBerry also used $36 million in cash during the quarter, compared to $255 million in the previous quarter, with cash holdings sitting nicely at $3.1 billion.


Related Tags

Got an opinion on this news? Post a comment below!