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WATERLOO, Ont. – BlackBerry (TSX:BB) CEO John Chen says the company’s latest financial quarter results met or exceeded expectations on key measurements — even though it posted another loss and lower revenue for the quarter and financial year ended Feb. 28.
BlackBerry’s net loss, reported in U.S. dollars, was $47 million or nine cents per share — a big improvement from the $238-million loss it had at the same time last year.
Revenue for the former leader in smartphone technology fell to $286 million for the quarter, down 38 per cent from a year before.
But the company was more focused on its adjusted profit of four cents per share — which compared with a year-ago adjusted loss of three cents per share — as well as the progress of its turnaround.
Based in Waterloo, Ont., Blackberry had signalled it would begin to recover following the US$117-million loss that it reported in its third quarter.
Chen has focused on positioning BlackBerry as a leader in software security services.
