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54% of BlackBerry’s Q1-FY15 revenues was from services; $151M APAC revenues

After posting losses in four consecutive quarters, Canadian handset maker BlackBerry has posted a net profit of $23 million for the quarter ended May 31, 2014 (Q1-FY15). This however includes a non-cash income of $287 million associated with the change in the fair value of the debentures, offset by pre-tax restructuring charges of $226 million related to the Cost Optimization and Resource Efficiency (“CORE”) program which started in March 2012. Without these, the company would've posted a loss of $60 million for the quarter. The total revenues was at $966 million for the quarter, registering a marginal 1% dip from $976 million revenues in the previous quarter. Operating Highlights - Services accounted for 54% of BlackBerry's revenues, down from 56% in the previous quarter but more than double of 26% in the same quarter last year. - Hardware sales accounted for 39% of BlackBerry's total revenues for the quarter, marginally up from 37% in the previous quarter but a massive decline from 71% in the same quarter last year. - Software and other revenues accounted for the remaining 7% of the BlackBerry's total revenues, same as the previous quarter but up from 3% in the same quarter last year. - During the quarter, BlackBerry sold around 2.6 million smartphones to end customers, down from 3.4 million smartphones in the previous quarter. However, it recognized revenues for only 1.6 million smartphones, as compared to 1.3 million smartphones in the previous quarter. - BlackBerry launched a new budget smartphone Z3 in Indonesia and plans to roll…

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