BlackBerry Reports Q4 And Year-End Results For Fiscal 2013
Today BlackBerry announced their Fourth Quarter and Year-End Results for Fiscal 2013. Investors have been eagerly awaiting the report due to the recent release of the BlackBerry Z10.
Some highlights from the report include the following:
- Revenue for the fourth quarter of fiscal 2013 was approximately $2.7 billion, down $49 million or 2% from approximately $2.7 billion in the previous quarter and down 36% from $4.2 billion in the same quarter of fiscal 2012. The revenue breakdown for the quarter was approximately 61% for hardware, 36% for service and 3% for software and other revenue.
- GAAP income from continuing operations of $94 million, or $0.18 per share diluted.
- Shipments of 6 million smartphones, including approximately 1 million BlackBerry 10 units BlackBerry smartphones and approximately 370,000 BlackBerry PlayBook tablets.
- Subscriber base of approximately 76 million.
- Cash flow from operations of $219 million, cash and investments balance of $2.9 billion.
- The Company also announced that Mike Lazaridis, having fulfilled the commitment he made to the Board in January 2012, has decided to retire as Vice Chair and a Director of the Company.
This is similar to the company's Q3 reports. However, there are there are some key issues. BlackBerry's subscriber base went down from 79 million users in Q3 to 76 million in Q4. That's is a difference of 3 million users, any shrink in the subscriber base is not good. Interestingly enough the company actually sold more PlayBooks this quarter than they did last quarter up 115,000. The company should do better after the full U.S. launch has completed.
Read the full press release here: