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BlackBerry looks for investments as Q2 losses narrow
2014-09-26 16:48:00| Telecompaper Headlines
(Telecompaper) BlackBerry has finished its workforce restructuring and will now focus on revenue growth, boosted by prudent investments, to further its leadership position in enterprise mobility and security. CEO John Chen expects the company will achieve breakeven cash flow by the end of its fiscal full year and non-GAAP profitability during fiscal full year 2016. The company said revenues for its fiscal second quarter to end August fell to USD 916 million from 1.57 billion the year before. Hardware contributed 46 percent to revenues, services accounted for another 46 percent and software for 8 percent. Hardware revenue was recognised on 2.1 million BlackBerry smartphones. The company sold a total of 2.4 million smartphones to end customers. The net loss narrowed to USD 207 million or USD 0.39 per share, from a loss the year before of 965 million or 1.84 per share. The non-GAAP net loss amounted to USD 11 million or a loss of USD 0.02 per share. At the end of its fiscal Q2 2015, the company had total cash, cash equivalents, short-term and long-term investments of USD 3.1 billion, up by USD 11 million from the previous quarter. The EZ Pass Program resulted in a total of 3.4 million licenses issued for BES10, a nearly three-fold increase from fiscal Q1, with 25 percent of total licenses traded in from competitor Mobile Device Management platforms. The number of active BBM users went to 91 million per month, from 85 million in Q1. Looking forward, BlackBerry said it wants to maintain its strong cash position, while increasingly looking for opportunities to invest in growth.
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Category:Telecommunications