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By | Andrew Orlowski 1st April 2016 15:56

BlackBerry's still losing millions – but hit its revenue target, finally

Android isn't exactly pulling up any trees, though

BlackBerry has hit its target of earning half a billion dollars in software and services revenue over a full fiscal year, thanks to the acquisition of long time rival Good Technology as well as BB's patent revenue.

The Canadian firm still has some way to go to being profitable, though, and the old phone business doesn’t seem to be much help.

BlackBerry booked revenue of $487m ($464m non-GAAP) in FY Q4 2016 and a loss of $238m (GAAP) or $18m (non-GAAP).

Restructuring and acquisition costs make up most of the difference between the GAAP and non-GAAP numbers.

Phone hardware and other sundries still make up 39 per cent of the company’s revenue ($189m) but software and services grew $153m (non-GAAP), up 106 per cent year-on-year, to $527m for FY 2016. That figure does include IP revenue, though, as well as goods sales.

Company executives were coy about the sales of its first Android phone, the well-received Priv, or any kind of device unit sales. That needs to be extrapolated from the device revenue ($189m) divided by the ASP ($315, the same as Q3), giving sales of 600,000 per quarter.

CEO John Chen said break-even should be $3m annually on an ASP of $315. Priv isn’t cheap, and BlackBerry declined to spend big on marketing the $700 (list price) slider. It didn’t even get a launch event.

BlackBerry launched only two other devices in calendar year 2015: the Leap, a basic all-touch phone that used chips from 2013, and a re-cased Passport, the Passport Silver Edition.

Find the full statement (PDF).

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