BlackBerry CEO Chen says company had a “solid quarter”
BlackBerry Ltd has had smaller than expected second quarter loss. John Chen, CEO of BlackBerry, said that the company had a “solid quarter” and is well on its way to improving its balance sheets.
Chen’s aim of “saving the patient” is showing promise, with a goal to increase software revenues.
The company reported second quarter loss of 2 cents per share, which was better than the 16 percents per share loss that many analysts had forecast.
There is also talk of the company releasing three new smartphones in the next fiscal year.
However, many analysts are still concerned about BlackBerry’s future given the significant drop in revenue.
On Friday Chen said:
“We’re done with our restructuring, and are investing somewhat steadily and cautiously for growth.”
A breakdown of BlackBerry’s Q2 results:
In BlackBerry’s Report of Second Quarter Fiscal 2015 Results, the company revealed:
There were “91 million monthly active BBM users, up from 85 million in the prior quarter.”
“Revenue for the second quarter of fiscal 2015 was $916 million. The revenue breakdown for the quarter was approximately 46% for hardware, 46% for services and 8% for software and other revenue. During the second quarter, the Company recognized hardware revenue on approximately 2.1 million BlackBerry smartphones. During the second quarter, approximately 2.4 million BlackBerry smartphones were sold through to end customers, which included shipments made and recognized prior to the second quarter and which reduced the Company’s inventory in channel.”