Things are looking up as Blackberry announce Q1 financial reports

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BlackBerry

 

Not long ago, Blackberry official released their earnings for Q1 2016 for financial year ending May 30 2015. From the results, smartphone sales dwindled from $379 million to $263 million over the past year. But software sales showed good signs, increasing from $37 million to $137 million.

This is as a result of their renewed focus to software services. Below is an extract from their official Press Release highlighting the details of their report.

Q1 Highlights

  • Software and technology licensing revenue of $137 million, a 150% increase over Q1 FY15
  • Positive free cash flow of $123 million in the quarter
  • Cash and investments balance of $3.32 billion at the end of the fiscal quarter, an increase of $50 million over Q4 FY15
  • Non-GAAP loss of ($0.05) per share, improving on a loss per share of ($0.11) in Q1 FY15
  • Basic GAAP earnings of $0.13 per share
  • Non-GAAP operating loss of ($7) million, improving on a non-GAAP operating loss of ($41) million in Q1 FY15
  • Non-GAAP gross margin of 50.3% and GAAP gross margin of 47.1%
  • Adjusted EBITDA of $157 million, a 5% increase over Q1 FY15
  • Acquired WatchDox, a leader in high-security document synchronization, sharing and management
  • Launched the BlackBerry Leap in April, with availability in 22 markets Entered into joint development deals with Wistron and Compal for devices, in addition to the Company’s existing partnership with Foxconn.

In a conference call, Blackberry CEO made the following statement:

“While there’s a lot of work to be done still in the next four to six quarters, as we kind of entered into the second phase of our turnaround, we are definitely on solid financial footing,”

With rumors of an upcoming Blackberry Android device, it appears we will have the Blackberry brand around in coming years.

 

Source 1, Source 2

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