BlackBerry is financially under control: CEO John Chen

BlackBerry CEO John Chen said Friday he's happy with his company's performance now that it has posted a surprise second-straight quarterly profit.

After massive cost-cutting, the Canadian-based software company on Friday posted fourth quarter net profit of $28 million, or 5 cents a share, compared with a year-earlier loss of $148 million, or 28 cents a share. Excluding one-time items, quarterly profit was $20 million, or 4 cents a share. Analysts, on average, looked for a loss of 4 cents a share.

Still, revenue came in below analysts' expectations. It slid to $660 million from $793 million, well below estimates of $786.4 million.


"We have now shown that we are financially under control," Chen said on CNBC's "Squawk Alley." "Now I need to stabilize the revenue and then I am going to start growing that."

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The market reacted positively to the news and BlackBerry shares were up more than 1.6 percent Friday afternoon.

John Chen, chief executive officer of BlackBerry.
David Paul Morris | Bloomberg | Getty Images
John Chen, chief executive officer of BlackBerry.

Chen highlighted the company's device management platform, Bes12, as a positive spot for growth. He said profits for the BlackBerry Classic and the Passport models will show up in the next quarter's earnings.

Chen acknowledges the company's $1.4 billion in debt. But he said he now needs to focus on stabilizing revenue and investing in growth.

"I'm not too hung up on short-term stock prices and valuation," he said. "Once we show that we have good traction in the market in terms of revenue and growth, I think the market will reward it."

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—Reuters contributed to this story.