Despite losing 3M subscribers, BlackBerry earnings positively surprise

Blackberry Lovers


BlackBerry(s bbry) service subscribers decreased to 76 million, down 3 million from a quarter ago, but cost-cutting and hardware sales helped the company earn a profit in its final fiscal quarter of the year. On Thursday, the company announced adjusted income of $114 million on revenue of $2.7 billion for the quarter.

As service revenues decrease, BlackBerry is getting more of its revenue from hardware with 61 percent of sales from smartphones and, to a lesser extent, tablets. For the quarter BlackBerry shipped approximately 6 million handsets with nearly 1 million of those being the new Z10 handset. BlackBerry recently announced a 1 million unit order for the Z10 but did not clarify how many, if any, of those are accounted for in this most recent quarter. The company shipped 370,000 BlackBerry PlayBooks during the quarter.

On its investor call, BlackBerry President and CEO Thorsten Heins said investors should remember…

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