BlackBerry beats expectations with $23 million Q1 profit, revenue falls

BlackBerry CEO John Chen speaks at the company's annual general meeting in Waterloo, Ont., Thursday June 19, 2014. THE CANADIAN PRESS/Dave Chidley

June 19, 2014 - 4:20 AM

WATERLOO, Ont. - BlackBerry (TSX:BB) says it made a profit of $23 million during its first quarter results, beating analyst expectations.

The Waterloo, Ont.-based smartphone maker says the results were equal to four cents per share, compared with a loss of $84 million or 16 cents a year ago.

On an adjusted basis, the company lost 11 cents per share, which came in above analyst estimates of a loss of 28 cents, according to Thomson Reuters.

Revenue fell to $966 million for the three months ended May 31 compared with $3.07 billion a year ago.

BlackBerry will hold its annual shareholders meeting later this morning in Waterloo.

News from © The Canadian Press, 2014

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