updated 08:13 am EDT, Thu June 19, 2014
Change in cash value temporarily boosts BlackBerry bottom line
Depending on how the numbers are examined, BlackBerry's latest quarterly earnings report either indicates a claw back to profitability, or yet another quarter in which they fell short. Revenue for the first quarter of fiscal 2015 was $966 million, down $10 million from the previous quarter. Based just on this, the company lost $60 million, but once a "change in the fair value" from funds allocated from the restructuring effort are taken into effect, the company claims to have earned $23 million in profit.
During the first quarter, the company recognized hardware revenue on approximately 1.6 million BlackBerry smartphones compared to approximately 1.3 million BlackBerry smartphones in the previous quarter. BlackBerry has so far declined to provide a breakdown of BB10 versus BB7 phones this quarter, however. The previous quarter, BB7 phones eclipsed BB10 phones with twice as many sales.
Little future guidance was given. BlackBerry is targeting break-even cash flow results by the end of fiscal 2015 (the company's fiscal end of year is in March). The BlackBerry financial earnings conference call is currently underway, and Electronista will update this post if any more relevant information becomes available.