BlackBerry boosts revenue and smartphone shipments in Q1 2014, but still loses $84 million
RIM, erm, BlackBerry has officially tried everything and anything to escape the dark pits of financial despair, rolling out a new mobile OS, launching new smartphones and even going through a rebranding of sorts. But has it all been enough to put BB’s financial situation back on track?
In short, not really. This is proven by the Canadian company’s latest financial report, for the three months ending on June 1, 2013. There are small nuggets of good news in there, no doubt, but all in all it still doesn’t look like BlackBerry knows how to make money anymore.
Where shall we start? Oh, yes, with a little technical detail. The report, while covering data from March 1 to June 1 2013, actually follows the first quarter of fiscal year… 2014. Sounds bizarre, I know, but let’s not worry too much about technicalities.
We should worry instead (and by “we” I mean BlackBerry) about how can one report increasing revenue and smartphone shipments but at the same time still lose money. That sounds even odder than a calendar year’s fiscal breakdown, but apparently it’s possible.
BB reported a $3.1 billion revenue for Q1 2014, up 15% from the previous quarter and 9% year-on-year, plus 6.8 million smartphone shipments, also up 13% compared with Q4 2013. And yet it lost $84 million, or 16 cents per share.
True, that’s not as “healthy” a sum as the one lost in Q1 2013 (i.e. a whopping $518 million), but BlackBerry actually managed to post a profit in the previous fiscal quarter ($94 million). What happened between the last quarter of 2013 and this first of 2014?
On paper, nothing that could explain this downfall. Au contraire in fact, since the Z10 expanded worldwide during the three months leading to June 2013 and the Q10 started selling in Canada and the UK, which used to be BB’s friendlier markets.
Then again, it’s not like you see Z10 or Q10 owners at every street corner. Oh, well, maybe the Q5, Z5 and whatever Thorsten Heins & co. have in the pipeline for the near future can turn things around. Probably not, but let’s stay optimistic for the sake of mobile competition.
Via [Market Wire]