Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

BlackBerry reports smaller-than-expected loss; shares rise

[September 26, 2014]  By Euan Rocha

TORONTO (Reuters) - BlackBerry Ltd <BB.TO><BBRY.O> 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.

(Reporting by Euan Rocha, Alastair Sharp and Allison Martell; Editing by Lisa Von Ahn)

[© 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.