BlackBerry (BB) has posted a $144 million U.S. profit in the fourth quarter of 2021.
The Waterloo, Ontario-based technology company, which reports its earnings in U.S. dollars, earned $12 million U.S. on revenues of $718 million U.S. for all of 2021, compared with a loss of $1.1 billion U.S. on $893 million U.S. of revenue in 2020.
For the fourth quarter, the former smartphone maker, earned $0.25 per share, compared with a loss of $0.56 a share or $315 million U.S. in the fourth quarter of 2021. Adjusted Q4 profits came in at $6 million U.S., down from $14 million U.S. in the previous third quarter.
BlackBerry’s fourth quarter revenues declined 12% to $185 million U.S. from $210 million U.S. a year earlier. Analysts had expected BlackBerry to post $29.3 million U.S. in adjusted losses on $186.8 million U.S. in revenue, according to financial data firm Refinitiv.
Year to date, BlackBerry stock is down 22% at $9.27 a share. The company today focuses on technologies related to cybersecurity, the Internet of Things (IoT) and licensing its software.
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