BlackBerry has reported a net loss of US$238M or 45 cents US per share loss in the fourth quarter of 2016 ended February 29, 2016. The company revenue was US$464 million which was expected to be more with the revenue from recent acquisitions. BlackBerry shares faced around 8% decline on the Nasdaq with US$7.48 and about 7% on the Toronto Stock Exchange with C$9.76 value.
Executive chairman and CEO John Chen said during the conference that the company sold 100,000 lesser units of their Android powered device Blackberry Priv in this quarter making it 600,000 units which is less than the last quarter’s 700,000 units of the device. “My number one focus is to stay in the hardware business beyond September, but I’m also a realist, I’m not going to stay in the business and continue losing money,” said Chen.
He also added that company has plans to launch a new mid-range Android powered smartphone before September to target the enterprise consumers. The Software and licensing revenue of the company came to $527 million exceeding company’s $500 million target. Overall revenue of the company fell to $464 million from $660 million a year earlier.
Executive Chairman and Chief Executive Officer John Chen added further,”Overall, BlackBerry’s Q4 performance was solid as we made progress on the key elements of our strategy, which are to grow software faster than the mobility software market, achieve device profitability and generate positive free cash flow. We have clearly gained traction and market share in enterprise software. We more than doubled our software and licensing revenue in Q4 and exceeded our target of $500 million for the full year. Looking to FY 2017, our strategy is on track and our growth engines are in place to continue to generate above market growth in software and achieve our profitability objectives.”