14 DAY TRIAL // As expected, BlackBerry announced results for its Q3 fiscal 2016 year and things seem to be going well for the Canadian company.
Although BlackBerry still bleeds money, the revenue is higher while the loss is much lower than analysts have expected, and that was duly noted by analysts as stock reacted positively to the news.
BlackBerry fans more interested in raw numbers can check out below the Q3 highlights as published by the Canadian company earlier today:
"- Non-GAAP total revenue of $557 million, up 14 percent over Q2 FY16; - Non-GAAP software and services revenue of $162 million, up 183 percent year over year and up 119 percent quarter over quarter; - Adjusted EBITDA of $114 million; - Cash and investments balance of $2.71 billion at the end of the fiscal quarter, including the impact of the recent acquisitions of AtHoc and Good Technology; - Non-GAAP loss of ($0.03) per share; - Completed the acquisitions of AtHoc and Good Technology; - Launched the PRIV in November, the only smartphone that combines BlackBerry-level security with the Google Play App Store's 1.6 million apps; - Confirmed plans to release OS version 10.3.3 on BlackBerry 10 to support NIAP certification."
As many of you have noticed by now, BlackBerry isn't talking PRIV sales yet since the smartphone was launched on the market in November.
BlackBerry counts a sale after the device is lit up and the 30-day return has expired, so there wasn't enough time in Q3 for these sales to accrue.
Average selling price on smartphones increases
In the same piece of news, Chief Financial James Yersh admitted during the company's earnings call that BlackBerry got revenue on 700,000 devices in Q3. However, the average selling price on a smartphone increased from $240 to $315.
Overall, it looks like John Chen's leadership is beneficial for BlackBerry, as the company will probably report increased revenue for Q4 fiscal 2016 when PRIV sale numbers are added.
BlackBerry PRIV will make its debut in more than 30 countries next year, which should boost the growth of hardware division, so it looks like the future is not that bleak at all for the Canadian company.