BlackBerry Ltd reported a fiscal third-quarter loss as widely anticipated on Friday, but the company posted its first quarter-to-quarter revenue gain in over two years, indicating that turnaround efforts may be gaining traction.
In the quarter ended November 28, the Waterloo, Ontario-based company reported a loss of $89 million (roughly Rs. 590 crores), or 17 cents a share. That compared with a year ago loss of $148 million (roughly Rs. 981 crores), or 28 cents a share.
Excluding a noncash credit tied to a change in the fair value of debentures, restructuring charges and other one-time items, the company posted a loss of $15 million (roughly Rs. 99 crores), or 3 cents a share.
Quarterly revenue fell 31 percent to $548 million (roughly Rs. 3,635 crores) from a year earlier, but rose 12 percent from the prior quarter, after nine consecutive quarters of declines.
Analysts, on average, expected the company to post a loss of 14 cents a share on revenue of $489 million (roughly Rs. 3,244 crores), according to Thomson Reuters I/B/E/S.
BlackBerry Q3 Revenue Tops Expectations