BlackBerry has focused on its software portfolio with a number of recent acquisitions and is betting on its offerings for the healthcare and automotive industries to fuel growth.
BlackBerry reported a profit of US$671 million, or US$1.23 per share, for the first quarter ended May 31, compared with a loss of US$670 million, or US$1.28 per share, a year earlier.
Revenue fell to $235-million from $400-million. On an adjusted basis, the company reported revenue of $244 million.
North Korea carries out another rocket engine test
ICBMs have a minimum range of about 3,400 miles (5,500 km), but some are created to travel 6,200 miles (10,000 km) or farther. It was the second such test of the SM-3 Block IIA interceptor, which is being developed by Raytheon .
Excluding items, the company earned 2 cents per share.
BlackBerry's shares rose about 50 per cent from roughly $10 in April to a 52-week high of $15.82 on June 1 at the Toronto Stock Exchange.
Citron also projected BlackBerry's shares were likely to reach US$20 on the Nasdaq within 24 months, echoing a Macquarie Research analyst's report from mid-May that said the company's shares could jump to US$45 by 2020.
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