BlackBerry reports fiscal fourth-quarter profit

[TORONTO] BlackBerry Ltd posted a fiscal fourth-quarter profit on Friday, offering some signs its turnaround efforts may be beginning to gain traction.

Waterloo, Ontario-based BlackBerry reported a net profit of US$28 million, or 5 cents a share, in the quarter ended Feb 28. That compared with a year-earlier loss of US$148 million, or 28 cents a share.

Excluding one-time items, the company quarterly profit was US$20 million, or 4 cents a share.

Quarterly revenue, however, slid to US$660 million from US$793 million.

REUTERS