BlackBerry Posts Smaller-Than-Expected Quarterly Loss of $207 Million

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BlackBerry Posts Smaller-Than-Expected Quarterly Loss of $207 Million
BlackBerry Ltd reported a much smaller-than-expected quarterly loss on Friday and said it was turning its focus to growth and investments. Its shares rose nearly 5 percent.

The Waterloo, Ontario-based company reported a net loss of $207 million, or 39 cents per share, for the second quarter ended Aug. 30. That compared with a year-earlier loss of $965 million, or $1.84 per share.

Excluding one-time items such as charges for restructuring and a change in the fair value of debentures, the company said the loss was 2 cents a share. On that basis, analysts polled by Thomson Reuters I/B/E/S were expecting a 16-cent loss.

"Our workforce restructuring is now complete, and we are focusing on revenue growth with judicious investments to further our leadership position in enterprise mobility and security," Chief Executive Officer John Chen said in a statement.

Shares of the company rose 4.6 percent to $10.25 in trading before the market opened.

© Thomson Reuters 2014


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