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.
Former MPD officer found not guilty in shooting Sylville Smith
Heaggan-Brown's attorney Jonathan Smith , said his client did what he was trained to do and was "gratified" over the acquittal. The first shot hit Smith in the arm, and the second, which was sacked after Smith fell to the ground, hit him in the chest.
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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