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Friday, June 23, 2017
BlackBerry's Software and Services Sales Fell in Q1


BlackBerry on Friday reported first-quarter sales that missed analysts' forecasts due to a drop in its software and professional services sales.

Growth in software sales fell 4.7 percent to $101 million in the first quarter from a year ago. However, Blackberry's executives expect software sales to grow this year in line with previous forecasts.

The company also said the first-quarter drop was due to a decline in professional services, which went from $27 million in the fourth quarter to "almost nothing" in the first quarter.

BlackBerry reported revenue on adjusted basis of $244 million for the quarter ending May 31. Profit in the same period totaled $671 million, or $1.23 per share, compared with a loss of $670 million, or $1.28 per share, a year earlier.

The quarter included a $940 million arbitration payment from U.S. chipmaker Qualcomm.

Excluding items, the company earned 2 cents per share.



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