BlackBerry on Thursday morning reported earnings that beat the Street’s expectations by a significant margin, suggesting that the company’s cost-cutting measures are paying off more quickly than analysts expected. For the fiscal first quarter ended in May, BlackBerry reported a loss of $0.11 per share versus the consensus estimate of a $0.25 loss per share. The company’s $966 million in Q1 revenue missed consensus estimates of $976 million, but smartphone shipments improved to 1.6 million units from 1.3 million in the year-ago quarter.
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