BlackBerry Posts Adjusted Third Quarter Profit on Net Loss
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.
Share a screenshot and win Samsung smartphones worth Rs. 90,000 by participating in the #BrowseFaster contest.
Tags: BlackBerry, BlackBerry Mobiles, Mobiles
[“source-ndtv”]
