BUZZ-BlackBerry Ltd: Posts surprise profit, but revenue fall steeper then expected

Fri Mar 27, 2015 8:26am EDT
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** Smartphone maker's U.S.-listed shares up 7 pct at $9.94 in volatile premarket trading premarket

** Stock initially rose sharply, then fell into negative territory, before again moving upwards

** Canadian company posts surprise adjusted profit in Q4, but revenue falls more than expected

** Software revenue rose 20 pct, offering signs company's transition to a more software-driven revenue stream may be beginning to gain traction

** Still revenue slid to $660 mln vs. Wall Street estimates of $786.4 mln

** BlackBerry controlling costs well and eliminating cash burn, says Morningstar's Brian Colello, but "we still have concerns about the demand side of the equation"

** Up to Thursday's close, the U.S.-listed shares had fallen more than 15 pct this year