BlackBerry reports 2Q profit, adjusted income tops estimates

BlackBerry Ltd. on Thursday reported fiscal second-quarter net income of $19 million, after reporting a loss in the same period a year earlier.

The Waterloo, Ontario-based company said it had net income of 4 cents per basic share. On a diluted basis – assuming conversion of the company’s convertible debentures – the loss was 7 cents per share. Adjusted for one-time gains and costs, income was 5 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The cybersecurity software and services company posted revenue of $238 million in the period. Its adjusted revenue was $249 million.

BlackBerry expects full-year adjusted revenue in the range of $920 million to $950 million.

BlackBerry shares have increased 44 percent since the beginning of the year. The stock has risen 26 percent in the last 12 months.