Posted under Startups
from http://venturebeat.com/ 1155 days ago

Image Credit: Flickr/Janitors

Canada’s most well-known tech company is finally back in the black.

Struggling smartphone maker BlackBerry today reported a profit of $23 million, or 4 cents a share, on total revenue of $966 million. That net income is based on generally accepted accounting principles (GAAP), which consider the company’s real estate sales and a tax refund. Excluding those items, BlackBerry’s adjusted loss for the first fiscal quarter of 2015 totaled $60 million, or 11 cents a share — substantially less than the 26 cents per share loss analysts anticipated.

“Over the past six months, we have focused on improving efficiency in all aspects of our operations to drive cost reductions and margin improvement,” said BlackBerry CEO John Chen in a statement. “Looking forward, we are focusing on our growth plan to enable our return to profitability.”

Today’s earnings report suggests a return to stability ...

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