BlackBerry reported a slide in fourth-quarter revenue on Friday amid weakness in hardware sales. The company reported revenue of $464 million in the quarter, down from $660 million a year earlier.

Chief Executive John Chen told analysts that smartphone sales were below company expectations. This was partly due to delays in contract negotiations with carriers, including Verizon, about its Android-based Priv device, he said.

The company also reported a net loss of $238 million, in the fourth quarter ended Feb. 29, compared with year-earlier profit of $28 million.

BlackBerry said it expected its software and services revenue to grow faster than the overall mobility software market, at around 30 percent.

One third of its revenue came from software and services. Service access fees still contributed 29 percent, and 39 percent was from hardware and other revenue.