BlackBerry reports fourth-quarter loss but tops expectations BlackBerry reports 4Q loss
BlackBerry reports fourth-quarter loss but tops expectations
Associated Press
6 minutes ago
WATERLOO, Ontario (AP) _ BlackBerry Ltd. (BBRY) on Friday reported a fiscal fourth-quarter loss of $238 million, after reporting a profit in the same period a year earlier.
The Waterloo, Ontario-based company said it had a loss of 45 cents per share. Losses, adjusted for non-recurring costs and amortization costs, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The smartphone company posted revenue of $464 million in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $559.7 million.
For the year, the company reported that its loss narrowed to $208 million, or 86 cents per share. Revenue was reported as $2.16 billion.
BlackBerry shares have decreased 13 percent since the beginning of the year. The stock has dropped slightly more than 9 percent in the last 12 months.
https://finance.yahoo.com/news/blackberry-reports-4q-loss-111748625.html