Canadian smartphone maker BlackBerry, under new leadership, announced a small profit in a surprising turnaround yesterday despite a huge drop in revenues.
The Waterloo, Ontario-based company reported a slight profit of $23 million in its fiscal first quarter ended May 31, following back-to-back losses.
Quarterly revenue, however, fell to $966 million from $3.07 billion a year ago. This was also down from the previous quarter.
The figures do not include exceptional items such as the sale of its offices and a change in the assessed fair value of millions of dollars in debentures.