BlackBerry efforts at recovery bear some fruit

Third quarter results down 24.9% but exceed analyst expectations

Canadian software maker BlackBerry Ltd posted a 24.9 per cent quarterly revenue decline on Wednesday, but beat expectations as its enterprise software and licensing sales grew.

The company, which has sought to reinvent itself after the collapse of its smartphone handset business, reported a net loss of $275 million (€232.2 million) for the third quarter ended November 30th, compared with net income of $9 million a year earlier.

Revenue fell to $226 million from $301 million a year earlier and $249 million in the second quarter. Analysts, on average, expected revenue of $215.4 million.

- Reuters