BlackBerry Jumps as Software Goal, Handset Profit in Sight
- Shares increase 10 percent, biggest gain since January 2015
- BlackBerry could make devices profitable in next two quarters
Blackberry CEO Chen: Making Positive Progress
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BlackBerry Ltd. gained the most in almost a year after boosting software revenue and saying it will likely pull its struggling handset unit into profitability within the next two quarters.
In its fiscal third quarter, BlackBerry reported a loss excluding certain items of 3 cents a share, beating the average analyst estimate for a loss of 14 cents. Revenue was $557 million compared with projections for $488.8 million, boosted by a jump in software revenue to $161.5 million, up from $54 million in the same quarter last year.