BlackBerry announces that it is back to profitability

The company that started the smartphone revolution in Canada is back in black. BlackBerry is making a profit again with a revenue of 2.7 billion for the previous quarter.  Hit jump for all the details.

President and CEO Thorsten Heins announced BlackBerry returned to profitability this morning on the company’s year-end results call this morning, for the quarter that ended March 2. In the face of numerous challenges, BlackBerry has gone from a significant operating loss in the first quarter of the year to an operating profit in the fourth quarter. Today, BlackBerry has an exciting new mobile computing platform, is profitable and has a healthy balance sheet.

Other highlights from the Q4 results:

·         Revenue of $2.7 billion

·         GAAP income from continuing operations of $94 million, or $0.18 per share diluted

·         Adjusted income from continuing operations of $114 million, or $0.22 per share diluted

·         Shipments of 6 million smartphones, including approximately 1 million BlackBerry 10 units

·         Subscriber base of approximately 76 million

·         Cash flow from operations of $219 million, cash and investments balance of $2.9 billion

“It was a year for change and we delivered significant positive change,” said Thorsten Heins, President and CEO.

·         With only a few weeks of availability, and in only a couple of countries, BlackBerry 10 made a strong entry into the high end of these markets with approximately 1 million BlackBerry 10 units.

·         Today, our launch is accelerating: 223 carrier technical acceptances have been completed, and over 60 carriers are now launched across 40 countries with more than 30 countries to come.

·         For the BlackBerry Q10, our first Lab Entry was achieved in late February, and Q10 is now testing with over 40 carriers in 20 countries. As mentioned at our launch in January, availability of Q10 will commence in April.

A replay of the conference call will also be available at approximately 10 am by dialing (+1)416-640-1917 and entering pass code 4501383# or by clicking the link above on your BlackBerry® 10 smartphone, personal computer or BlackBerry® PlayBook™ tablet. This replay will be available until midnight ET April 11, 2013.

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