Struggling handset maker sees light at the end of the tunnel
There may be hope for BlackBerry yet. The company formerly known as RIM -- these days it's just BlackBerry -- surprised investors and analysts by posting a $23 million profit for the three-month period ended May 31, 2014. That's quite a change from the $423 million loss it posted three months ago, and the $84 million loss it posted a year ago after being beaten down by the competition.
Big losses have become all-too-familiar for BlackBerry
The numbers are in for BlackBerry's fourth quarter of fiscal 2014, and once again, they're not pretty. To get some of the bigger ones out of the way, BlackBerry posted a $423M loss, or $0.08 per share diluted, for Q4, which contributed to a $5.9 billion loss for entire year. Despite the heavy losses, BlackBerry's recently inaugurated CEO John Chen said he was "very pleased" with how things are going. Confused?