BlackBerry misses 1Q net income and revenue expectations

MarketsAssociated Press

BlackBerry Ltd. (BBRY) on Tuesday reported fiscal first-quarter net income of $68 million.

The Waterloo, Ontario-based company said it had profit of 10 cents per share. Losses, adjusted for one-time items, came to 5 cents per share.

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The results fell short of Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The smartphone company posted revenue of $658 million in the period, also missing Street forecasts. Eleven analysts surveyed by Zacks expected $684.5 million.

BlackBerry shares have declined 16 percent since the beginning of the year. The stock has increased 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBRY at http://www.zacks.com/ap/BBRY

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Keywords: BlackBerry, Earnings Report