Blackberry turns a quarterly profit


Canada’s BlackBerry Ltd
reported a fall in first quarter revenue that
missed estimates as it received fewer
orders from its enterprise customers,
sending the company’s U.S.-listed shares
down 6 percent in premarket trading.
The company said it got more than 3,000
orders from enterprise customers in the
quarter, down from over 3,500 orders it got
in the fourth quarter.

BlackBerry has focused on its software
portfolio with a number of recent
acquisitions and is betting on its offerings
for the healthcare and automotive
industries to fuel growth.
The company reported a profit of $671
million, or $1.23 per share, for the quarter
ended May 31, compared with a loss of $670
million, or $1.28 per share, a year earlier.

The quarter included a $940 million
arbitration payment from U.S. chipmaker
Qualcomm Inc.
Revenue fell to $235 million from $400
million. On an adjusted basis, the company
reported revenue of $244 million, missing
analysts’ estimates of $264.51 million,
according to Thomson Reuters I/B/E/S.
Excluding items, the company earned 2
cents per share. Analysts on average had
expected the company to break even.

BlackBerry’s U.S.-listed shares fell 6.1
percent to $10.39 before the bell, after
earlier rising 3.5 percent. (Reporting by
Narottam Medhora in Bengaluru; Editing by
Shounak Dasgupta) 


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