BlackBerry posts $117 million loss for third quarter

WATERLOO, Ont. _ BlackBerry (TSX:BB) is reporting a third-quarter loss of US$117 million, the smallest of the current financial year.

The Waterloo, Ont.-based company, which reports in U.S. currency, says the latest quarterly loss amounted to 22 cents per basic share before adjustments.

After adjustments, BlackBerry says it earned two cents per share for the quarter ended Nov. 30.

Revenue was $289 million under generally accepted accounting rules, down from $548 million a year earlier when BlackBerry posted an $89-million third-quarter loss, worth 17 cents per share. Revenue for the quarter was $301 million with adjustments

About 55 per cent of its adjusted revenue was from software and services _ the company’s new focus under chairman and CEO John Chen.

Mobility Solutions, including BlackBerry’s dwindling handset business, generated 23 per cent of revenue and the remaining 22 per cent came from service access fees.

The shift in strategy away from smartphone hardware was in response to waning sales as competitors such as Samsung and Apple gained greater market share.

BlackBerry is also trying to position itself in the burgeoning market of self-driving vehicles, and on Monday it formally opened a research centre for autonomous cars in Ottawa.