BlackBerry's (BBRY) Q4 Loss Narrows, Revenues Fall Y/Y

BlackBerry's shares rose in pre-market trading on Friday after the smartphone pioneer and software provider reported stronger-than-expected fourth-quarter results.

For the full year ended February 28, BlackBerry had a $1.21 billion net loss under general accounting rules and just $1.31 billion of revenue, which was down almost 40 per cent from fiscal 2015-16. (That's $286 million in sales when stripping out deferred revenue for the quarter in question.) Analysts expected a top line of just $289 million, and only expecting a breakeven bottom line. BlackBerry also forecast it would be profitable on an adjusted (non-GAAP) basis and achieve positive free cash flow (FCF) in fiscal 2018.

Shares were up 11.4% to $7.74 on Friday afternoon, leaving them near the high end of the fairly narrow range they've been in over the last 12 months.

Gross margin jumped to 60.1% in the fourth quarter from 43.3% past year, and the company received over 3,500 enterprise customer orders in the quarter, representing a 16% increase from the last quarter.

While the deal is not yet finalized, Chen said one of the company's partners will make the tablet, which will use BlackBerry's software.

But BlackBerry's report was more focused on its adjusted profit of four cents per share, which outperformed the consensus estimate.

BlackBerry shed the burden of its ever-shrinking phone business by officially outsourcing all device design, production and sales to other companies a year ago - allowing it to cut back further on costs.

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Total cash, cash equivalents, short-term and long-term investments increased by Dollars 89 million to USD 1.7 billion.

Currently, the market capitalization of BlackBerry Limited (BBRY) is 3.79 Billion.

CEO John Chen believes that the results came in well above their expectations in all the key metrics and the company continued to grow its mix of services and software revenues across the business. The company reports its results in USA dollars.

BlackBerry stock is trading up 12.37 percent at time of writing this.

The smartphone maker-turned-software company said operating expenses fell 49.2 percent to $229 million in the quarter.

Excluding one-time items, the company earned 4 cents per share.

Looking at the current price of the stock and the 52 week high and low, it suggests that the stock is likely to go Up in the future. The company's Toronto-listed stock was up 15.4 percent at C$10.70.

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