BlackBerry Posts Adjusted Third Quarter Profit on Net Loss

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Blackberry reported an adjusted profit for its fiscal third quarter, surprising Wall Street. The Canadian company’s stock climbed almost 3 percent in Friday premarket trading.

For the period ended Nov. 29, the company lost $148 million (roughly Rs. 936 crores), or 28 cents per share. That compares with a loss of $4.4 billion (roughly Rs. 27,845 crores), or $8.37 per share, a year earlier.

Stripping out some charges, earnings were a penny per share.

Analysts polled by Zacks Investment Research predicted a loss of 6 cents per share.

Revenue declined to $793 million (roughly Rs. 5,018 crores) from $1.19 billion (roughly Rs. 7530 crores). Analysts were looking for $927.8 million (roughly Rs. 5,871 crores), according to Zacks.

Blackberry Ltd. said that it continues to target sustainable adjusted profitability some time in fiscal 2016.

Filed in: News

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