BlackBerry Q3 revenue and earnings beat estimates, stock up in pre-market trade

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WATERLOO, Ont. — BlackBerry Ltd.’s third-quarter revenue and profit beat analyst estimates, with growth coming from its software and services business.

The company, which keeps its books in U.S. dollars, earned US$59 million in net income, up from a loss of $275 million in the same quarter last year.

The profit amounted to 11 cents per basic share for the most recent quarter compared with a loss of 52 cents per share a year ago. BlackBerry’s adjusted profit for the quarter ended Nov. 30 was five cents per share.

Revenue totalled $226 million, which was even with last year’s third quarter and up from $210 million in the second quarter this year.

Analysts on average had expected an adjusted profit of two cents per share and revenue of $212.5 million, according to Thomson Reuters Eikon.

The company’s shares were up six per cent in pre-market trading after the announcement.

 

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The Canadian Press