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BlackBerry posts less-than-expected quarterly loss

: Saturday, June 21 - 2014 @ 14:39

BlackBerry has reported a narrower-than-expected quarterly loss, as the troubled smartphone maker’s turnaround efforts started to pay off, raising hope that its chief executive can deliver on a pledge to return the company to steady profits, Reuters has reported. Excluding special items, the company drew down $255m in cash in its first quarter, much less than the $784m it used in the fiscal fourth quarter. BlackBerry’s gross profit margin rose to 46.7% in the quarter from 33.9% a year earlier, and it reported net income of $23m, compared with a loss of $84m a year earlier. Quarterly revenue dropped to $966m from $3.07bn a year earlier.

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