BlackBerry posts surprise earnings beat
BlackBerry (Toronto Stock Exchange: BB-CA) delivered quarterly earnings that topped analysts' expectations on Friday, but revenue came in lower than expected.
The Canadian-based gadget maker posted fourth-quarter earnings of 4 cents per share, reversing a loss of 8 cents a share in the year-earlier period.
Revenue fell to $660 million from $976 million a year ago.
Wall Street had expected the company to deliver a loss of 4 cents per share on $794 million in revenue, according to consensus estimates from Thomson Reuters.
Shares of BlackBerry rose in premarket trading following the announcement. (Get the latest BlackBerry quote here. (Toronto Stock Exchange: BB-CA))
The embattled company continues to struggle with plunging sales of its iconic BlackBerry smartphone brand. Earlier this month, the company revealed a series of new smartphone models, including both an affordable and luxury option.
Read More BlackBerry goes cross-platform as it unveils new devices
BlackBerry shares have remained mostly unchanged over the past 12 months, dipping about half a percent.
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