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NewsPoster Mar 28, 2013 09:33 AM
BlackBerry quarterly report shows improved operating profits
BlackBerry has reported a profit in its latest quarterly report, the first since it <a href="" rel='nofollow'>rebranded</a> from Research in Motion. Details in the fourth-quarter <a href="" rel='nofollow'>filing</a> shows the phone manufacturer as earning an operating profit of $94 million from $2.7 billion in revenues, an improvement from the $14 million earned in the <a href=" ous.quarter/" rel='nofollow'>previous quarter</a> with roughly-similar revenues. <br />
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The increase in operating profit quarter-on-quarter is dwarfed by the difference when compared to the $125 million operating loss on $4.2 billion in revenues for the same quarter <a href="" rel='nofollow' target="_self" title="">last year</a>. <br />
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During the quarter itself, 6 million smartphones were shipped, 1 million of which consisted of <a href=" p.numbers/" rel='nofollow' target="_self" title="">BlackBerry 10</a> devices. Though the figure is small, the figures released run until the beginning of March, and so does not take into account launches for the <a href=" t.on.march.22/" rel='nofollow'>Z10</a> handset in the US and Canada. Subscriber numbers have eroded over the quarter, from a population of 79 million subscribers to 76 million. <br />
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As overall revenues are roughly similar to previous results, the increase in operating profit could be attributed to various cost-cutting measures. CEO Thorsten Heins claimed "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," in the filing. <br />
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In the same statement, RIM co-founder Mike Lazaridis has announced his retirement from his position as Vice Chair and a director at the company. He will be stepping down from the BlackBerry board on May 1st, and will be spending his time working on a his new venture, Quantum Valley Investments.
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