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BlackBerry Says On Track For FY Profitability As It Turns Around To Profit In Q2

BlackBerry Limited (BBRY,BB.TO), a mobile-native security software and services company, Thursday said it is on track to achieve profitability for the full year 2018 and software and services revenue growth in the range of 10 percent to 15 percent.

In pre-market activity, shares were gaining around 7.7 percent to $9.94.

Total non-GAAP revenue for the year is expected in the range of $920 million to $950 million and total non-GAAP software and services revenue growth is expected in the range of 10 percent to 15 percent.

In its second quarter, net income was $19 million, compared to loss of $372 million last year. On a per share basis, the company reported loss of $0.07, reflecting higher share count, compared to loss of $0.71 a year ago.

Adjusted net income was $26 million or $0.05 per basic share.

Total revenue declined to $238 million from last year's $334 million, with weak revenues in all regions.

Adjusted revenues were $249 million, down from $352 million last year. However, software and services revenue increased 34 percent.

by RTT Staff Writer

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