BlackBerry Ltd beat adjusted profit estimates for the fourteenth straight quarter, helped by higher margins on software and services sales.
BlackBerry’s U.S. shares rise 5.4 per cent in premarket after the results were released.
The company, which reinvented itself after customers ditched its smartphones for Apple’s iPhones and Android devices, said revenue from its enterprise software and services business came in at US$108 million, up from US$91 million last year.
Gross margins rose to 76 per cent in the quarter from 60.1 per cent last year.
Excluding one-time items, the Waterloo, Ontario-based company earned 5 cents per share. Analysts on average had expected the company to break even, according to Thomson Reuters I/B/E/S.
Net loss narrowed to US$10 million, or 6 cents per share, in the fourth quarter ended Feb. 28, from US$47 million, or 10 cents per share, a year earlier.
The company’s revenue fell 18.5 per cent to US$233 million.
U.S. listed shares of the company were up 7 per cent at US$13.25 Wednesday before markets opened.
© Thomson Reuters 2018