With hardware sales continuing to fall, BlackBerry's (BBRY +2.2%) FQ3 hardware/services/software revenue mix was 40%/53%/7%. That compares with 49%/46%/5% in FQ2, and 61%/36%/3% in FQ1.
Estimated phone sell-through of 4.3M units was below estimated FQ2 sell-through of 5.9M, and reported FQ1 sell-in of 6.8M.
EMEA now makes up 46% of revenue; sales to the region fell 47% Y/Y. North American sales (28.5% of total) also -47%, Latin America (11.3% of total) -75%, Asia-Pac (14.2% of total) -56%.
With BlackBerry's massive job cuts in full swing, R&D spend fell 18% Y/Y to $322M. However, SG&A spend rose 11% to $543M; declines are likely in future quarters.