BlackBerry beats expectations with $23 million Q1 profit, revenue falls

CP28819645
BlackBerry CEO John Chen speaks at the company\'s annual general meeting in Waterloo, Ont., Thursday June 19, 2014. THE CANADIAN PRESS/Dave Chidley

WATERLOO, Ont. – BlackBerry (TSX:BB) says it made a profit of $23 million during its first quarter results, beating analyst expectations.

The Waterloo, Ont.-based smartphone maker says the results were equal to four cents per share, compared with a loss of $84 million or 16 cents a year ago.

On an adjusted basis, the company lost 11 cents per share, which came in above analyst estimates of a loss of 28 cents, according to Thomson Reuters.

Revenue fell to $966 million for the three months ended May 31 compared with $3.07 billion a year ago.

BlackBerry will hold its annual shareholders meeting later this morning in Waterloo.

News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Canadian Press

The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms.

Related Articles