BlackBerry
Earnings Show Signs of
Stabilization Under New CEO
Finally, some good news for
BlackBerry. The Canadian smartphone maker reported its
Earnings results for the first-quarter for fiscal year 2015 on Thursday.
To the surprise of many analysts, the company managed to
report a small profit — $23 million (or $0.04 a share), thanks to accounting adjustments
Under GAAP (General Accepted Accounting Principles). Take those adjustments — which were **n-cash changes — out of the equation, and the company reported a loss of $60 million or $0.11 a share) for the quarter.
Still, even if you view BlackBerry's
Earnings as a net loss rather than a profit, the company is showing
Signs of a turnaround. CEO John Chen, who took over
BlackBerry seven months ago, is effectively stemming the pattern of losses in revenue, handset sales and market perception that have plagued the beleaguered company for the past few years.
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