Shares of BlackBerry Ltd. shot up 6.8% in premarket trade Wednesday, after the software company reported fiscal fourth-quarter profit and sales that beat expectations. The net loss for the quarter to Feb. 28 narrowed to $10 million, or 6 cents a share, from $47 million, or 10 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 5 cents, above the FactSet consensus of 1 cents. Revenue fell to $233 million from $286 million, but was above the FactSet consensus of $216 million, as software and services revenue of $218 million topped expectations of $196 million. Revenue from handheld devices fell to $2 million, in line with expectations, from $55 million, as the percentage of overall revenue dropped to 0.9% from 19.2%. For fiscal 2019, the company expects adjusted EPS to be “positive,” compared with the FactSet consensus of 8 cents. The stock has run up 76.4% over the past 12 months through Tuesday, while the S&P 500 has gained 10.8%.
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