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

IndustriesAssociated Press

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

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

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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.

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