BlackBerry Losses Widen, As Revenue Misses Expectations

BlackBerry Ltd said Friday it had a net loss of $238 million, or 45 cents per share during its fiscal fourth quarter, after a profit of $28 million last year, or 5 cents per share. The adjusted loss for the quarter was 3 cents a share, less than the FactSet consensus of 13 cents. Revenue came in $464 million, a nearly 30% drop compared with $660 in the year earlier period, well below the $787 milllion FactSet revenue consensus. The company said it expects to grow its software and services about 30% and anticipates positive cash flow in fiscal 2017. Shares of BlackBerry were inactive in premarket trade, but in the year so far the company has seen shares fall 12.8%, while the S&P 500 index has gained just under 1%.