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