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BlackBerry reports $423 million Q4 loss

BlackBerry Ltd. reported a fourth-quarter loss of US$423 million as its revenue for the three-month period dropped below $1 billion. File Photo/Canadian Press

WATERLOO, Ont. – BlackBerry Ltd. reported a fourth-quarter loss of US$423 million as its revenue for the three-month period dropped below $1 billion.

The smartphone maker, which keeps its books in U.S. dollars, says the loss amounted to 80 cents per share compared with a profit of $98 million or 19 cents per share a year ago.

However, excluding several one-time items BlackBerry says it reported an adjusted loss from continuing operations of $42 million or eight cents per share for the quarter.

Revenue fell to $976 million for the three months ended March 1 compared with $2.68 billion a year ago.

The revenue breakdown for the quarter included about 37 per cent from hardware, 56 per cent for services and seven per cent for software and other revenue.

In its outlook, BlackBerry says it is targeting break even cash flow results by the end of its 2015 financial year.

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