Blackberry posts adjusted profit in fiscal 3rd quarter, surprises Wall Street

Industries Associated Press

Blackberry reported an adjusted profit for its fiscal third quarter, surprising Wall Street.

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The Canadian company's stock climbed almost 3 percent in Friday premarket trading.

For the period ended Nov. 29, the company lost $148 million, or 28 cents per share. That compares with a loss of $4.4 billion, or $8.37 per share, a year earlier.

Stripping out some charges, earnings were a penny per share.

Analysts polled by Zacks Investment Research predicted a loss of 6 cents per share.

Revenue declined to $793 million from $1.19 billion. Analysts were looking for $927.8 million, according to Zacks.

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Blackberry Ltd. said that it continues to target sustainable adjusted profitability some time in fiscal 2016.