BlackBerry posts narrower than expected Q1 loss as smartphone sales improve

[Wireless News]

http://l3.yimg.com/bt/api/res/1.2/WEs0y1utunywpLoQh3cB1g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_US/News/BGR_News/blackberry-sign-23.jpg (http://news.yahoo.com/blackberry-posts-narrower-expected-q1-loss-smartphone-sales-111103054.html)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 the-$976 million analysts were looking for, but smartphone shipments improved to 1.6 million units from 1.3 million in the year-ago quarter. BlackBerry’s cash and cash equivalents totalled $3.1 billion in Q1, up sequentially from $2.7 billion. “Our performance in fiscal Q1 demonstrates that we are firmly on track to achieve important milestones, including our financial objectives and delivering



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