BlackBerry posts fourth-quarter profit; seeks to end revenue slide

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(Reuters) – BlackBerry Ltd (BB.TO)(BBRY.O) posted a surprise quarterly on Friday and said it is pushing to end a slide in its in this fiscal year, sending the stock up as much as 5.1 percent.

financial viability is no longer in question. We’re now turning attention to stabilization,” BlackBerry John Chen said on a conference call.

Chen plans to grow BlackBerry’s small but -margin software division by moving more onto its products, including a system that allows and government agencies to manage multiple employee devices.

The stock rose as as $9.77, before easing to $9.59, up 3.1 percent on the Nasdaq, despite a much bigger--expected decline in fiscal fourth quarter .

BlackBerry investors cheered the unexpected quarterly and solid growth in revenue software products, which includes the QNX operating system, used in everything cars to reactors.

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Chen said while the average analyst estimate of a small per-share loss in the current quarter looks reasonable “we do intend to do better.”

“Chen and his team are one of the better management teams there,” said BGC analyst Colin Gillis. “But they have a lot of selling and a lot of execution to do.”

Waterloo, Ontario-based BlackBerry reported net of $28 million, or 5 cents a share, in the fourth quarter ended Feb. 28. That compared with a year-earlier loss of $148 million, or 28 cents a share.