BlackBerry Ltd posted better-than-expected quarterly earnings on Friday, offering signs its turnaround efforts may be beginning to gain traction, but a larger-than-expected drop in revenue gave investors cause for concern.
The stock fell 2.5 percent to $9.07 in premarket Nasdaq trading.
Waterloo, Ontario-based BlackBerry reported net profit of $28 million, or 5 cents a share, in the fourth quarter ended Feb. 28. That compared with a year-earlier loss of $148 million, or 28 cents a share.
Excluding one-time items, quarterly profit was $20 million, or 4 cents a share. Analysts, on average, expected a loss of 4 cents a share in the period, according to Thomson Reuters.
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