BlackBerry On Its Way To Recovery With Over 150 per cent Revenue Increase

BlackBerry Limited, has posted financial results for the three months ended May 30, 2015.

 

The results showed that the company’s software and technology licencing revenue of $137 million, represented a leap of 150 per cent over the first quarter of 2015.

 

It also recorded positive cash flow of $123 million in the quarter.

Blackberry's cash and investments balance of $3.32 billion at the end of the fiscal quarter, was an increase of $50 million. Similarly, revenue for the first quarter of fiscal 2016 was $658 million.

 

The revenue breakdown for the quarter was approximately 40 per cent for hardware, 38 per cent for services and 21 per cent for software and technology licensing.

 

A statement from the communication company explained: “BlackBerry approximately 45 per cent of the licences associated with these deals are cross-platform. During the first quarter, the company recognised hardware revenue on approximately 1.1 million BlackBerry smartphones with an ASP of $240.

“Total cash, cash equivalents, short-term and long-term investments was $3.32 billion as of May 30, 2015. The cash balance increased $50 million in the first quarter. Excluding $1.25 billion in the face value of our debt, the net cash balance at the end of the quarter was $2.07 billion,” it added.