BlackBerry misses profits estimates amid turnaround efforts

BlackBerry misses profits estimates amid turnaround efforts

BlackBerry has reported a first-quarter loss that missed analysts’ estimates as sales from smartphones dropped.

The loss excluding certain items was 5 cents a share in the period that ended May 30, Waterloo, Ontario-based BlackBerry said Tuesday in a statement. Analysts predicted a loss of 4 cents, the average of estimates compiled by Bloomberg.

Chief executive John Chen set a goal of doubling yearly software revenue to $500 million by March 2016 as the company seeks to reduce...

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