BlackBerry reports first-quarter slump in revenue, net loss

Thu Jun 23, 2016 7:17am EDT
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TORONTO, June 23 (Reuters) - BlackBerry Ltd posted a 35 percent fall in first-quarter revenue and a third straight quarterly loss on Thursday as it paid heavily to restructure its operations and write down the value of some assets.

The Waterloo, Ontario-based company reported a net loss of $670 million, or $1.28 cents a share, on revenue of $424 million. A year ago, it reported a profit of $68 million, or 10 cents a share, on revenue of $658 million. Excluding one-time items, the company posted profit of $14 million, or nil a share. (Reporting by Alastair Sharp; Editing by Jeffrey Benkoe)