BlackBerry Surprises With Fourth Quarter Results

BlackBerry just posted its fiscal fourth quarter results, revealing a quarterly operating loss much smaller than analysts had feared. Shares of BlackBerry are up 6.63% (NASDAQ:BBRY) in pre-market trading. However, the revenue missed expectations and the company’s cash position worsened.

The company also revealed BlackBerry 10 phone sales, which were less surprising.

The embattled Canadian phone maker saw revenue drop from 64% from 2013 levels to $976 million. This $423 million loss is chump change compared to the $4.4-billion loss reported during the previous quarter.

The company is still bleeding cash, though, as BlackBerry’s cash position at quarter-end fell to $2.7 billion from $3.2 billion reported at the end of the previous quarter.

Services still remain vitally important to BlackBerry and accounted for 56% of the company’s revenue. Hardware only made up 37%, further lending evidence to the fact that BlackBerry’s future rests not in the hands of making the next great smartphone, but providing the backbone for enterprise solutions.

During this quarter the company sold just 3.4 million handsets to customers with only 1.1 million being BlackBerry 10 devices. Approximately 2.3 million were antiquated BlackBerry 7 handsets. But is that really surprising anymore? Not really.