SKIP TO MAIN CONTENT

BlackBerry results beat expectations

Blackberry shares have risen in pre-market trading, after third quarter results that beat analysts' expectations.

2 min read

Published

Updated

Source: AAP


Skip to article content

BlackBerry has reported quarterly results that beat Wall Street expectations, even as revenue fell sharply.

Shares of the smartphone maker rose almost 4 per cent in pre-market trading on Friday.

CEO John Chen said BlackBerry's latest device, the PRIV, has been "well received" since it went on sale last month. More carriers are expected to offer the phone around the world in the next several quarters, he said.

The Canadian company reported a loss of $US89 million ($A125.04 million), or 17 cents per share, in its fiscal third quarter, compared with a loss of $US148 million, or 24 cents per share, in the same quarter a year ago.

Losses, adjusted for non-recurring costs and amortisation costs, came to 3 cents per share. But that was better than Wall Street expectations.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.

Revenue fell 31 per cent from a year ago to $US548 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $US485.2 million.

Shares of BlackBerry Ltd. rose 31 cents, or 4 per cent, to $US8.11 in pre-market trading Friday. Its shares are down about 29 per cent since the beginning of the year.


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world