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BlackBerry turns surprise profit in Q4 despite missing revenue estimates

Updated Mar 28th, 2013 7:32AM EDT
BlackBerry Q4 2012

BlackBerry (BBRY) on Thursday reported a surprise profit of $0.22 earnings per share despite generating lower-than-expected revenues of $2.7 billion in its fourth fiscal quarter. All the same, the company should be pleased to turn a profit since consensus expectations for the firm were a net loss of $0.39 EPS on revenues of $2.84 billion. On the quarter BlackBerry shipped 6 million total smartphones, including 1 million BlackBerry Z10 devices, although its subscriber base shrank to 76 million from 79 million in the previous quarter. But despite the erosion in its subscriber base, BlackBerry’s return to profitability on the quarter is a significant achievement, especially considering that it posted a yearly a net loss of $646 million for the full year in 2012.

Prior to joining BGR as News Editor, Brad Reed spent five years covering the wireless industry for Network World. His first smartphone was a BlackBerry but he has since become a loyal Android user.