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Kimberry Pitt

BlackBerry Earns a Little Bit Better

BlackBerry (BBRY) reported its fiscal 4th quarter this morning which came out a little bit better than expected.  The company revealed that its cash position remained pretty solid. Last quarter BlackBerry reported revenues of $2.7 billion, a 36% decline over the prior-year period. Adjusted income from continuing operations of $114 million or $0.22 per share which is better than analyst estimates of a loss of $0.32 per share.

Production for BlackBerry 10 devices was increased in the latter part of Q4 as a result of strong demand. Their marketing expense will increase by 50% as the company ramps up advertising support for BB10 and the company expects it will be at break even or very close to break even for Q2.

Even though their earning seems good, I don't think BlackBerry is beating other rivals. They lost about 3 million subscribers. This morning BBRY actually rose about 4% but it slid quickly as well. I will wait for a little and short them.

Photo: CNN