Blackberry’s Q3 earnings ‘better than expected’

Blackberry's Q3 earnings were better than anticipated

Blackberry’s Q3 earnings have exceeded expectations, with the tech company reporting a narrower loss than experts had forecasted. 

The smartphone manufacturer raked in $557 million during the July to September period, which was up $64 million from $548 million one year ago. 

Furthermore, the company lost $89 million during Q3, which equated to 17 cents per share, but after adjustments to exclude certain items, the total loss was just $15 million, or three cents per share. 

This follows a survey from Thomson Reuters in which analysts forecast that Blackberry would lose 14 cents per share, or $489 million in revenue during the quarter. 

However, Blackberry shares in fact jumped 55 cents, or seven per cent, in pre-market trading on the Nasdaq exchange. 

John Chen, chief executive at Blackberry, stated that the company had enjoyed higher revenue across all of its focus areas. 

He also noted that the new Priv handset had proved popular since it was released in November, which is likely to have a knock-on effect on future figures.