BlackBerry posts Q1 profit, revenue down as it bought back US$10M of shares

BlackBerry Ltd. reported a net profit of US$1.9 million during the first quarter, compared to a net loss of US$41.4 million a year earlier.  Its profit during the quarter amounted to zero cents US per share, compared with a loss of seven cents US per share during the same period last year.  The Waterloo, Ont.-based tech company, which keeps its books in U.S. dollars, saw its adjusted net income come in at US$12.3 million in the first quarter, compared with a loss of US$14.3 million during the same period last year.  Total revenue came in at US$121.7 million during the quarter, down from US$123.4 million the previous year.  BlackBerry CEO John Giamatteo said in a press release that its QNX and secure communications divisions beat expectations on both the top and bottom lines.  He added that the company executed US$10 million of share buybacks during the quarter. This report by The Canadian Press was first published June 24, 2025. Companies in this story: (TSX:BB)