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BlackBerry Q4 earnings show $423mn loss, revenue down 64 per cent year-on-year

BlackBerry has revealed its figures for the fourth quarter of fiscal 2014, and the headline news is that revenue is down 64 per cent year-on-year.

The company raked in a total of $976 million (£587 million), down from $2.7 billion (£1.62 billion) in Q4 of the previous year. Ouch, indeed. Compared to the last quarter, the company was down $217 million (£130 million) or 18 per cent.

The company saw a Q4 loss of $423 million (£254 million) or $0.80 per share, with an adjusted loss of $42 million (£25 million) or $0.08 per share diluted, which, at least, was better than analysts expected.

Revenue breakdown was 56 per cent services, 37 per cent hardware, and 7 per cent software and other revenue streams. It managed to shift 3.4 million BlackBerry smartphones throughout Q4, though two-thirds of those devices were BlackBerry 7 handsets, not the company's latest BB10 OS.

BlackBerry said it anticipated a continued streamlining process, and to break even with cash flow come the end of fiscal 2015.

John Chen, CEO of BlackBerry, said: "I am very pleased with our progress and execution in fiscal Q4 against the strategy we laid out three months ago. We have significantly streamlined operations, allowing us to reach our expense reduction target one quarter ahead of schedule. BlackBerry is on sounder financial footing today with a path to returning to growth and profitability."

We shall see, but it's very much an uphill path for BlackBerry at the moment. As Chen noted in a company-wide letter aimed at morale boosting after the Q3 earnings report, "turning a company around is hard work."

We recently analysed BlackBerry's future prospects in an article entitled: BlackBerry 10 is a year old: Will the OS reach the two year mark?