BlackBerry reports $671 million quarterly profit, CEO says ‘foundation is solid’


BlackBerry is now a fully software-focused company. The company announced its fiscal 2018 Q1 results this morning.

Ending May 31st, BlackBerry reported profits of $671 million CAD, representing $1.23 per share. Revenues for the quarter dropped to $235 million from $400 million. Those numbers are a massive change from the same period in 2017 that saw total company losses reach $670 million.

The main reason for the shift was due to the $940 million “positive outcome” it was awarded in its arbitration lawsuit with Qualcomm. This boosted its total cash balance on-hand at the end of the fiscal first quarter to a respectable $2.6 billion, representing a jump of $855 million.

“Our financial foundation is solid,” said John Chen, executive chairman and CEO, BlackBerry.”

With its sights on enterprise software, BlackBerry highlighted it had over 3,000 enterprise customer orders in the quarter. It should also be noted this number is down from 3,500 orders during the previous quarter.

There was no indication as to the number of handsets its partners sold. BlackBerry recently signed agreements with TCL Communication, PT BB Merah Putih and Optiemus Infracom. To date, we have seen the BlackBerry KEYone and the BlackBerry Aurora smartphones officially launch. The initial response from both Android devices has been positive.

Recent BlackBerry handset sales numbers

  • 2013: 7.8 million
  • 2014: 6.8 million
  • 2015: 1.6 million
  • 2016: 1.1 million
  • 2017: 500,000
  • 2018: Not disclosed

“In Q1, we made great progress strengthening our strategic position in emerging growth markets, most notably in cybersecurity and the Enterprise of Things,” said Chen.

“We secured key design wins in high growth segments of automotive technology, including advanced driver assist, digital instrument cluster and our hypervisor solution. Our ecosystem is growing with Qualcomm and NVIDIA adopting BlackBerry technology for their automotive platforms. Furthermore, we have been recognized once again as a leader in Gartner’s Magic Quadrant on the strength of our BlackBerry Secure platform.”

Source: BlackBerry