BlackBerry surprises critics, posts Q4 profit

BlackBerry surprised analysts by posting a profit, earning $94 million or 18 cents per share in the quarter ending March 2. When you compare those numbers with last year – when the Canadian smartphone maker lost $125 million – it appears the company’s BlackBerry10 launch has been more successful than projected by some.

“We’ve made great progress and we’re proud of it, but we’re also well grounded,” said president and CEO Thorsten Heins in a conference call with analysts.

Thomson Reuters anticipated BlackBerry would get slammed in its fourth quarter, projecting a loss of 29 cents per share. It clearly isn’t the case. One million of its new touchscreen devices have been shipped to date, and about 55 per cent of Z10 customers have migrated from competitor’s devices.

However, it appears BlackBerry’s overall subscriptions are down, dropping to 76 million from 79 million. Co-founder Mike Lazaridis also announced he would step down as BlackBerry’s vice chairman and director on May 1.