BlackBerry's financial report for Q1 of fiscal 2016 is out: a mostly break-even affair

BlackBerry's financial report for Q1 of fiscal 2016 is out: a mostly break-even affair
Last time we heard about BlackBerry's financial situation, things were a bit surprising for many analysts - it actually reported a profit, despite the grim initial predictions. It was then said that the Canadian smartphone maker will be focusing on revenue stabilization in the upcoming quarters. 

Well, BlackBerry just posted its financial report for the first quarter of fiscal 2016, and from the looks of it, this strategy is paying out for BlackBerry. Its 

It reported revenue of $658 million, 40% of which is accountable to hardware, whereas services get and software licensing are responsible for 38% and 21% of this financial metric, respectively. As a comparison, in Q4 of fiscal 2015 the former giant brought home a revenue of $660 million.

During the quarter, BlackBerry says it has sold some 1.1 million devices, which is noticeably lower than last quarter's result of 1.6 million devices. The Non-GAAP loss during the last fiscal quarter was $28 million, which is equivalent to $0.05 per each share. Another noteworthy stat tells us that the liquidity of the company has also increased - it now has $3.32 billion in total cash and other cash equivalents, up from the $3.27 billion cash pool back in Q4 of fiscal 2015.


Although hard, BlackBerry's pathway towards stability seems a bit more clear now - its emphasis on "breaking-even" seems to be working. Who knows, the wildly-rumored Android-powered BlackBerry smartphone that could be in the works might as well rekindle interest in the Ontario-based phone slinger that was once domineering.

source: BlackBerry via CrackBerry

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