Blackberry hits 2015 revenue target despite losing millions

Blackberry just about managed to hit its goal of earning half a billion dollars in software and revenue services over the course of 2015's fiscal year.

The company was able achieve its goal in a large part due to revenue from its patents and from its acquisition of Good Technology. Blackberry paid $425 million for the company that was once its rival. Good Technology is well-versed in secure application development and by acquiring the company, Blackberry can now offer secure applications to its clients in addition to its own strengths in mobile device management.

Overall Blackberry finished the year with a total revenue of $487 million and a loss of $238 million according to generally accepted accounting principles (GAAP). When it comes to the non-GAAP numbers, the company had a revenue of $464 million with a loss of $18 million. The differences between these two sets of numbers is comprised of restructuring and acquisition costs.

39 per cent of the company's revenue - $189 million - was earned through its mobile hardware division. Blackberry did manage to sell a fair number of mobile devices but revenue from software and services grew to $153 million (non-GAAP) to a total of $527 million for the fiscal year of 2016 including IP revenue.

In November of last year, Blackberry released its first Android phone the Priv. The device was well-received by journalists and by consumers. However, the Priv's $700 price tag and lack of marketing may have held the phone back from selling as well as it might have. Blackberry also released the device without a proper launch event to showcase it to the public. The company has not offered any data on how many devices it sold last year.

Besides the Priv, Blackberry only launched two other mobile phones last year. The first was the Leap, a touchscreen phone running outdated chips from 2013 and the second was the Passport Silver Edition which was essentially a Passport sporting a silver case.

Blackberry may not have taken the mobile phone market by storm last year - and probably never will again - but the company was able to reach its revenue goals through its software, services and large patent portfolio.

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