BlackBerry Defeats Doubters, Returns to Profitability with One Million Z10s Sold

BlackBerry released its year-end results today.

Posting a revenue of $2.7 billion, the Waterloo-based company is once again profitable, earning an income of $94 million, despite a Pacific Crest analyst affirming last month that BlackBerry had “no line of sight to profitability.” However, its subscriber base fell slightly to 76 million customers.

“In the face of numerous challenges, BlackBerry has gone from a significant operating loss in the first quarter of the year to an operating profit in the fourth quarter,” the company said.

BlackBerry sold one million Z10 smartphones as of March 2, according to the quarterly earnings report—and has already sold more than a million units since then. Once again, the Canadian company beat most analyst estimates.

President and CEO Thorsten Heins announced BlackBerry returned to profitability this morning on the company’s year-end results call this morning, for the quarter that ended March 2. In the face of numerous challenges, BlackBerry has gone from a significant operating loss in the first quarter of the year to an operating profit in the fourth quarter. Today, BlackBerry has an exciting new mobile computing platform, is profitable and has a healthy balance sheet.

“It was a year for change and we delivered significant positive change,” said Thorsten Heins, President and CEO.

The Z10 sold well considering it was initially available in only couple of countries. This quarter, the smartphone will be seling through over 60 carriers across 40 countries with more than 30 countries still to come.

“We have implemented numerous changes at BlackBerry over the past yea r and tho se changes have resulted in the C ompany returning to profitability in the fourth quarter,” added Heins, President and CEO. “With the launch of BlackBerry 10, we have introduced the newest and what we believe to be the most innovative mobile computing platform in the market today.”

BlackBerry shipped a total of six million smartphones and 370,000 PlayBook tablets during the quarter.

“We are excited about the new, dynamic culture at BlackBerry, where we are laser-focused on continuing to drive efficiency and improve the company’s profitability while driving innovation,” Heins noted. “We have built an engine that is able to drive improved financial performance at lower volumes, which should allow us to generate additional benefits from higher volumes in the future.”

The Q10 will launch in April, confirmed BlackBerry.